Merc's GEM is anything but a jewel: key growth unit may be in for polishing. (Chicago Mercantile Exchange's growth and emerging markets)

Crain's Chicago Business, August, 1997 by Fritz, Michael

Reeling from member anger over depressed seat prices and declining currency trading, the Chicago Mercantile Exchange is considering a sweeping overhaul of its once-heralded initiative to capture foreign business. The plan, discussed by exchange directors last week, would require members' approval.

If endorsed, the restructuring could undermine a critical attempt to revitalize the exchange's offerings with new contracts tied to rapidly expanding economies in Latin America, Eastern Europe and the Far East. The makeover also would be a blow to Merc Chairman Jack Sandner, who had championed the effort - known as the Growth and Emerging Markets (GEM) division - less than two years ago. Touted at the time as "one of the most ambitious initiatives in decades," the...

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