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CBT's yellow flag; Despite loss of stature, exchange moves cautiously.(News)(Chicago Board of Trade,)
Crain's Chicago Business, January, 2003
Byline: STEVEN R. STRAHLER In so many words, Nickolas J. Neubauer, the departing chairman of the Chicago Board of Trade, says that the hometown rival Chicago Mercantile Exchange got lucky with the timing of last month's initial public offering, a first for any U.S. exchange. The Merc, he says, put itself in a position where it had to proceed with the IPO during what turned out to be a risky lull for new offerings.
``Fortunately, this did not seem to affect their success, but from the point of view of the October stock market lows, this could have been troublesome,'' Mr. Neubauer suggested in a letter this month to Chicago Board of Trade (CBT) members. The attitude is much more cautious at the CBT, which was once the world's largest futures exchange, but...
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