Chicago Board of Trade (CBoT) announced last week that it
had created a new member firm category, called trading member
firms, that will allow proprietary trading firms, hedge funds
and other non-clearing firms access to the exchange at lower
The programme, which was due to start on 1 May, will allow
such participants who hold only series B memberships to qualify
as trading member firms. Chicago Mercantile Exchange launched a
comparable programme in 2004 (see FO Week Vol 9 No 6),
which it subsequently extended to the end of this year.
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