CBoT raises share price

26 Sep 2005

Chicago Board of Trade (CBoT) boosted the initial price range for its shares last week and sacked one of its underwriters.

The exchange changed the initial price range for shares to be traded in its public offering to $45-49 per share, up from $33-36 announced in June. IPO experts said the price change...

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“At our current funding level, the Commission is under serious strain. We lack the staff and resources necessary to both implement Dodd-Frank and continue to fulfil our pre-Dodd-Frank duties under the Commodity Exchange Act. Without additional funding, the strain will only become worse in July, when much of Dodd-Frank goes into effect.”

The CFTC's Michael Dunn pleads for Congressional support over the regulator's budget.