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CBT eyes merging with Merc. (Chicago Board of Trade; Chicago Mercantile Exchange)
Crain's Chicago Business, January, 1996 by Merrion, Paul
Joining the rivals will be tough sell Pressured by rising costs and slumping trading volume at both exchanges, the Chicago Board of Trade is exploring the idea of a merger with the Chicago Mercantile Exchange. An executive summary of a task force report, presented to the Chicago Board of Trade's (CBT) board of directors last month, says the merger would cut costs and improve global competitiveness.
Officials at both exchanges confirmed preliminary conversations, but any deal would face enormous political hurdles, given the institutions' historic rivalry. CBT Chairman Patrick Arbor says he broached the idea of combining the world's two largest futures exchanges with Merc Chairman Jack Sandner in the past two weeks and plans to talk to him soon about launching more...
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