THE COLD WAR BETWEEN CBT, EUREX HEATS UP; European alliance takes pounding, and local exchange faces hard call.(Chicago Board of Trade )(Brief Article)

Crain's Chicago Business, April, 2001 by Strahler, Steven R.

A once-heralded electronic-trading partnership between the Chicago Board of Trade and a European exchange is on the rocks, with new management on both sides headed for a showdown at a summit this week in Germany. Some Board of Trade (CBT) members, agreeing with outsiders, are predicting an outright junking of the alliance with the Swiss-German exchange known as Eurex, perhaps by the end of the year.

At a minimum, CBT leaders are eager to revamp the deal, in part to address another festering conflict with the exchange's offspring, the Chicago Board Options Exchange (CBOE). At stake is not just the CBT's relationship with these other exchanges but its prospects as a survivor in an increasingly competitive (and computer-based) futures and options industry....

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