Business Services Industry
Chicago Exchanges Attempt to Solidify Positions against Electronic Competitor.
Knight Ridder/Tribune Business News, October, 2003
By Mark Skertic, Chicago Tribune Knight Ridder/Tribune Business News
Oct. 12--Like a ward boss dealing with an upstart aldermanic candidate, the Chicago Board of Trade and Chicago Mercantile Exchange are calling in favors, making promises and exerting political pressure.
Their goal: to solidify their positions before the new, all-electronic U.S. exchange operated by Eurex AG moves in on Chicago's turf in U.S. futures trading.
Critics claim that the CBOT and the Chicago Mercantile Exchange, through efforts here and in Washington, D.C., also are trying to derail or delay the planned Feb. 1 start of Eurex trading. Among the tactics:
Both have stepped up lobbying efforts in Washington. This week, for the second time this year, a...
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