US exchanges retool for consolidation

The dinosaurs that were the old US futures exchanges are extinct. CBOT's and CME's changes, in response to upstart rivals such as Eurex US, may be paving the way to consolidation.

Eurex’s fight fails to draw much blood

BERNIE DAN SITS back in his chair. He’s in an ebullient mood, and with good reason. It’s the first week of January and the Chicago Board of Trade, where Dan is CEO, has just released its traded contracts data for 2004, its third consecutive record-breaking year. “We traded nearly 600 million contracts last year, up from 225 million in 2001,” he says. “Only Brazil’s futures exchange has grown more quickly.

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