CBOT report forces review. (merger of Chicago Board of Trade and Chicago Mercantile Exchange studied)(includes related article)

Futures (Cedar Falls, Iowa), March, 1996

Officials from the Chicago Board of Trade (CBOT) and the Chicago Mercantile Exchange have begun studying the merits of merging their operations in response to recommendations contained in a report submitted to the CBOT. The proposals were developed by a special task force to help the CBOT boost revenues and minimize expenses. Other moves recommended by the group include cost recovery programs for new technology, raising revenue for market data services and the dissolution of the Ceres Trading Limited Partnership.

George Soros' theory of reflexivity states there is a two-way connection between flawed perception and the actual course of events, whereby a mistaken human bias can end up dictating events. Theory met reality when a minor point in a report submitted to the...

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