BrokerTec Futures Exchange (BTEx) threw in the towel last week, saying it would close its doors just under three years after setting up in competition with Chicago Board of Trade (CBoT).
The all-electronic exchange said it will suspend trading operations as of the close of business on 26 November. Until that time, the exchange will permit trading only for the purpose of liquidating open positions. Last Thursday, BTEx delisted all contracts, other than contracts maturing in December 2003.
While the demise of BTEx did not come as a surprise to industry executives, some said...