NYSE may be able to compel CME to reveal CBoT plans

04 Jul 2005

Chicago Mercantile Exchange (CME)'s share price rise following Chicago Board of Trade's announcement that it had received takeover interest on 29 June (see story p1) prompted New York Stock Exchange (NYSE) to ask CME to clarify the reason for the unusual market behaviour.

CME shares rose almost $35 last Wednesday to a...

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"While we support its overall direction, a number of the requirements in the review are needlessly oppressive, particularly the proposed limits on execution-only business and bilateral execution. Additionally, the swathe of costly disclosure obligations is more likely to confuse than inform customers.”

The FOA's Anthony Belchambers responds to the EC's Mifid review.