Prof. Jayanth R. Varma's Financial Markets Blog

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Prof. Jayanth R. Varma's Financial Markets Blog, A Blog on Financial Markets and Their Regulation

© Prof. Jayanth R. Varma
jrvarma@iima.ac.in

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Wed, 18 Oct 2006

Another electronic platform buys out another trading floor

The acquisition of CBOT (Chicago Board of Trade) by the CME (Chicago Mercantile Exchange) fits a now familiar pattern of an electronic platform buying out and gradually digesting a trading floor. One of the big benefits of the deal will be that CBOT products start trading on Globex. ICE (Intercontinental Exchange) buying NYBOT (New York Board of Trade) was also in the same mould. Viewed in this light, the deal between NYSE and Euronext will ultimately mean that Euronext’s electronic platform absorbs the NYSE trading floor though in financial terms, it is the NYSE that is buying Euronext. Of course, the NYSE deal with Archipelago was also similar, but Euronext would take the process much further.

Posted at 13:32 on Wed, 18 Oct 2006     View/Post Comments (0)     permanent link