Chicago Board of Trade (CBoT)'s most recent S-1 filing with Securities and Exchange Commission has suggested that agricultural product trading pits are likely to stay at the exchange, even as it approaches an IPO. This likelihood left market participants asking what impact the pits could have on CBoT's Wall Street road show.
The 21 June S-1 filing by CBoT included a provision that allows full and associate members to vote on proposals by the board of directors that would close the agriculture trading pits or introduce side-by-side electronic and pit trading.
However, to pass such measures would require a majority vote by full...