When it comes to market-user preference in the Intercontinental Exchange (ICE) versus Chicago Mercantile Exchange (CME) debate over who would the best partner for Chicago Board of Trade (CBoT), it appears CME is winning out so far.
While there is debate among market participants over which deal will work best for users, the prevailing sentiment is for a CME-CBoT combination that features financials and ags on one trading platform with one clearinghouse. Of course, the choice will be decided by shareholders, but a high percentage of end users are also CBoT members.
"From the investment perspective and the user perspective, the CME offers more synergies to the firms," said Mike Manning, president and CEO of Rand Financial Services in Chicago. "They have a trading platform that everyone knows can support...