Chicago Board of Trade (CBoT) completed its first annual
shareholder meeting as a publicly traded company on 2 May with
top executives backing the continuation of pit trading even
though the exchange has plans to launch side-by-side screen
tradingthis year (see FO Week Vol 11 No 17).
While the exchange would continue to push its technology and
distribution, Bernie Dan, CBoT president and CEO, told
shareholders that he still supported keeping the trading floors
open. One reason, he said, was that some trades remained best
handled on the floor. He said that about 17% of the electronic
volume on CBoT originates on the financial floor.
"We want to keep that arena open because some people don't
like the isolation of an independent office," Dan said. "With
the trading floor, we have, for lack of a better term, a great
arcade with people who are actively trading on both
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.