CBOT members go to polls on Eurex alliance.(Chicago Board of Trade)(Brief Article)

Futures (Cedar Falls, Iowa), December, 1998 by Cavaletti, Carla

Whoever thinks the CBOT is run by an elite board may want to think again. Lack of support from a group of influential members spearheaded the halt of common clearing. Now the membership will determine the future of the Eurex/CBOT alliance, which up until several months ago appeared to be moving forward solely with a board of directors vote.

The CBOT discussed scheduling a membership vote in mid-November, which according to CBOT officials is not required. But after further consideration the exchange decided to wait until a final agreement is signed so members may vote on the exact terms of the alliance.

Burt Gutterman, the CBOT member who led a petition drive to request the vote, says members are not nixing Eurex, but instead they are protesting the...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.