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Clients to local exchanges: Merge operations or lose us.(Merger collapse between Chicago Board of Trade and the Chicago Mercantile Exchange angers corporate clients)
Crain's Chicago Business, October, 1998 by Strahler, Steven R.
STEVEN R. STRAHLER Major customers of Chicago's big futures exchanges are warning that business could switch to more-efficient competitors if the exchanges don't start cooperating with each other. The collapse of recent merger talks and a preliminary deal to merge clearing operations at the Chicago Board of Trade (CBT) and the Chicago Mercantile Exchange has miffed corporate users tired of dealing with what they feel are poorly governed institutions.
None is so blunt as Gordon D. Linn, who chairs the CBT committee representing futures commission merchants (FCMs) - typically firms that trade futures contracts. Interested in the prospect of renewed merger discussions, he didn't get the response he wanted from exchange leaders last week at a Futures...
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