A New York Board of Trade (Nybot) unveiled new details in
the exchange's plan to alter its trading permit rules (see
FO Week Vol 11 No 15), effectively cutting the number
of permit holders as the exchange demutualises as well as
reducing trading rights.
In a memo obtained by FO Week, Nybot's seat
restructuring committee proposed a number of changes that would
eliminate unused trading permits and place new fees on them in
the coming months. The issue was set to be addressed on 24
April at what was expected to be a confrontational meeting
between exchange executives and permit holders.
This article is available exclusively to subscribers
Please log in to continue reading.
Not yet a subscriber?
Click here to take a free trial.
Already have an account? |
Please fill in your details below and a customer service representative will contact you.