MERC's Plan To Remake Globex Gets Icy Welcome From CBOT
PROPRIETARY EXECUTION
Despite the air of triumph with which it was delivered to the media, the Chicago Mercantile Exchange's restructuring proposal for the Globex order-matching system was greeted with little more than a chilly silence from the Chicago Board of Trade.
The two Chicago futures exchanges, along with Reuters, remain partners in the troubled Globex Corp. joint venture. But the question is, for how long? Although both exchanges agree that dramatic changes must be made in order to ensure the system's
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