Time to give Merc, CBT more breathing room. (Chicago Mercantile Exchange; Chicago Board of Trade)(Editorial)

Crain's Chicago Business, February, 1997

On an issue as important as keeping the nation's financial futures markets robust yet financially sound, regional self-interests must be put aside. It would be easy to offer unconditional support for a sweeping deregulation plan being pushed in Washington, D.C., by the Chicago Mercantile Exchange and Chicago Board of Trade.

Yet beyond the hometown boosterism - even beyond the horsepower that the world's premier futures marts provide for the local economy - is a compelling case for exchange-backed reforms now before the U.S. Congress. Domestic futures exchanges face a disadvantage when competing against unregulated over-the-counter (non-exchange) futures markets, as well as a growing list of less-regulated foreign exchanges. They have steadily lost marketshare to...

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