BrokerTec out of the Gates. (Rebates or Kickbacks?)
The moment the floor staff of the Chicago Board of Trade (CBOT) (CME) has been dreading for years is now here: BrokerTec's futures trading platform kicked in at the end of November, along with a Reuters report that the consortium expects to grab 30% of Chicago's U.S. Treasury debt volume within the next 12 months, and 70% in 24 months.
Citing a confidential offering statement for BrokerTec Futures Exchange's Class B shares, the report claims BrokerTec's low fee structure would leave the capital-intense CME and CBOT in the dust. A spokesman declined to comment, citing the confidential nature of the offering.
While the consortium's average of 4,000 trades per day may …
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Publication information:
Article title: BrokerTec out of the Gates. (Rebates or Kickbacks?).
Contributors: Not available.
Magazine title: Futures (Cedar Falls, IA).
Volume: 31.
Issue: 3
Publication date: February 2002.
Page number: 12.
© 2009 Summit Business Media.
COPYRIGHT 2002 Gale Group.
This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.
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