A privately held Australian investment firm has quickly become the largest seat holder at Chicago Board of Trade (CBoT), FO Week has learned.
Caledonia Investments, a privately held passive investment firm based in Sydney, has purchased almost 40 full and associate CBoT memberships since December 2003. That makes Caledonia the largest membership owner at CBoT "by far," according to one CBoT member. Caledonia is leasing out its seats to various firms and is not considered a player on the exchange in terms of trading volume. How many seats it plans to buy is unknown. Seat prices have continued to climb, with the latest asking price for a full CBoT membership at $810,000, according to CBoT.
CBoT has around 1400 full and 700 associate memberships.The firm's foray into the Chicago market has caught the attention of many long-time...