Industry figures think the common clearing deal between Chicago Board of Trade (CBoT) and Chicago Mercantile Exchange (CME) could be an important step toward a merger of the two exchanges, according to the results of an FO Week poll.
Most, however, feel that the political landscape in which the Chicago exchanges operate means the road to a merger will be long and arduous.
FO Week surveyed FCMs, traders, technology firms and other industry figures about the likelihood of a merger, and the merits or otherwise of the clearing agreement.
Respondents were split over whether CBoT made the right decision in taking its clearing to CME. Some thought it was both a wise business move for the exchange and a positive move from the customers perspective. Others were not so sure, pointing out that leaving Board of Trade Clearing Corporation (BoTCC) may give a competitive advantage to Eurex, and that without...