Single stock futures (SSF) exchange OneChicago's year-long effort to land an equity partner appeared to have hit a snag largely due to its own ownership structure, sources have told FO Week.
Exchange owners Chicago Mercantile Exchange (CME), Chicago Board Options Exchange (CBOE) and Chicago Board of Trade (CBoT) have hampered OneChicago's plans to secure an equity partner deal, the sources said, largely because of the disparate ownership group and apparent lack of incentive.
OneChicago hired Chicago-based Mesirow Financial last March to help the exchange find a new investor (see FO Week Vol 10 No 12). The firm has negotiated with a number of brokers and private equity funds, and a deal was last week...