Having finally reached a conclusion ten months after its predicted bid for CBoT, CME can look to the future as the proud new owner of its Chicago neighbour. Whether ICE had a genuine chance to win CBoT or was simply an effective stalking horse is a matter of debate but either way CME had to up its bid twice. CME must now prove to CBoT’s and its own shareholders that they made the right decision. $12bn is a serious amount of money in an inflated...