Chicago Board of Trade (CBoT) members were expected to give the green light to move ahead with an IPO at a vote on 22 June. However, the likely timescale for the exchange following the vote remained unclear.
Many have expected CBoT to move swiftly through the IPO process and list the company by the end of the summer, thus realising the underlying value of memberships. However, the vote could also spark much anticipated merger between CBoT and Chicago Mercantile Exchange (CME) either pre-IPO or after the company is floated on the stock market.
Debate over which scenario would be more...