CME, CBoT strong ahead of takeover vote

27 Apr 2007

Chicago Mercantile Exchange (CME)'s net income rose 42% to record levels ahead of the proposed merger with Chicago Board of Trade (CBoT). First quarter net income rose to $130m driven by record average daily volumes, which increased to 6.5m contracts, a 32% increase versus a year earlier, the exchange revealed in its Q1...

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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.