Chicago Board of Trade (CBoT) ceo Bernie Dan continued to brand Eurex and its proposed US Futures Exchange "opaque" last week, but the argument did not appear to stick with Chicago firms.
Several firm executives interviewed regarding criticisms of price discovery and exchange fees said they have not experienced any such problems with Eurex. And some charge CBoT itself with historically running opaque markets on the floor.
"For years, things that have gone on in the pits have been totally opaque to investors," said Russ Wasendorf, chairman and ceo of Peregrine Financial Group in Chicago. "There is a mystery of what happens to an order when it goes into the pit. There's a real lack of confidence on the...