Chicago Board of Trade (CBoT) officials said last week it was committed to the clearing link with Chicago Mercantile Exchange (CME), despite still having a bid on the table for Board of Trade Clearing Corporation (BoTCC).
In a press conference to clarify issues about clearing and the clearing linkage, Bob Ray, CBoT senior vice president, said the exchange agreement will continue as planned beginning on 2 January, 2004. The contract runs until 31 January 2008 and can be extended.
"This is a definitive agreement and it will be implemented no later than 2 January," Ray said. "Nothing will alter...