DOJ Blesses CBOT-CME Deal
Atlanta-based ICE counterattacked two weeks ago by partnering with privately held Chicago Board Options Exchange in order to settle the ongoing dispute between the CBOT and the options exchange in regards to exercise rights that CBOT members hold.
Under the $660 million pact, Board of Trade members will get $500,000 each to compensate them for relinquishing rights to trade at the CBOE. The agreement would settle a long-running dispute that has hampered the CBOE in its efforts to go public. A spokeswoman for the CBOT was not immediately available. A spokesman for the CME said the exchange would be issuing a statement shortly. Shares of the CBOT closed up $3.04, or 1.5%, to $201.54. The CME's stock rose $7.44, or 1.4%, to $557.07, while ICE shares climbed $3.56, or 2.4%, to $149.19. Shareholders are set to vote on the CBOT-CME deal in July.- Loading Comments...
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