New York Stock Exchange (NYSE)'s deal with Euronext has
renewed talk among market users of an all-Chicago exchange
merger of Chicago Mercantile Exchange (CME), Chicago Board of
Trade (CBoT), Chicago Board Options Exchange (CBOE) and Chicago
Opinion in Chicago was last week divided on how urgent the
situation was but some market users said NYSE's move should
serve as a reminder that Chicago's exchanges need to continue
to find ways to add value for customers and shareholders.
Bill McGowan, managing director with Interactive Brokers,
told FO Week that the dynamics of the overall financial
services industry have switched from an exchange-centric market
to a broker-driven market. Brokers in the futures and
securities space said this change has pushed exchanges such as
NYSE to build the largest, cheapest and fastest utility. He
added that that may serve as the catalyst for Chicago's
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