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Exchange deals with futures woes now; Once-immune CBOE under pressure.(Brief Article)

Crain's Chicago Business, January, 2001 by STRAHLER, STEVEN R.

Once viewed as a facile innovator among local financial exchanges, the Chicago Board Options Exchange is suddenly bogged down on several defensive fronts. While overshadowed by the Chicago Board of Trade's (CBT) well-documented travails in the futures business, the Chicago Board Options Exchange (CBOE) confronts eerily similar perils in the market for stock options: marketshare erosion, upstart rivals, fractious internal debates and, above all, questions about the viability of the exchange in a computerized world.

And looming on the horizon is another huge headache-the newly legislated right to trade single-stock futures (and essentially poach the CBOE's order book) by the CBT and its futures industry brethren. ``The CBOE has been the golden boy of the...

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