Key legal issues among US options exchanges are continuing to hamper both Chicago Board Options Exchange (CBOE) and Philadelphia Stock Exchange (PHLX) in moving forward with M&A activity. However, both exchanges maintain their position as attractive consolidation partners or targets.
As consolidation activity among options exchanges heats up, highlighted by the proposed International Securities Exchange deal with Eurex for $2.8bn, a spotlight has been cast on the remaining options exchanges as consolidators.
However, CBOE and PHLX separately continue to face law suits that are stalling efforts to move ahead with corporate activity.
In the case of PHLX, the exchange is fighting a lawsuit filed by Chuck Ginsburg and other Class A...