CBoT reduces electronic trade busts

19 Apr 2004

Chicago Board of Trade (CBoT) said last week that it had significantly reduced busted trades on the exchange using the dynamic price limit functionality on the Liffe Connect electronic trading platform.

In the first three months of this year - the first quarter following full migration to Connect - CBoT reported 16 "unique incidents" on its electronic platform, resulting in 61 busted trades. These figures contrasted favourably with their equivalents from the first quarter of 2003, when...

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“The fact is, an awful lot of people would be very happy for all business to be transacted over the counter. Transparency is good for the consumer, but privacy is better for the banks and the brokers. Wherever there’s a grey area, it’s possible to make money.”

European consultants predict frantic lobbying during the Mifid review.