The rift between Chicago Board of Trade (CBoT) and Board of Trade Clearing Corporation (BoTCC) widened last week and the relationship appears to be heading toward a complete split, sources have told FO Week.
"If I had to place a bet today, I'd say the Board of Trade would start their own clearinghouse and BoTCC will clear Eurex," said one source, close to both CBoT and BoTCC.
Sources also told FO Week that the $207m buyout offer by CBoT was not nearly enough. And the ongoing pressure by CBoT to resolve the matter quickly may have permanently damaged ties between the two entities.
At the heart of the dispute, which began to surface last...