Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Wednesday, May 30, 2007

ICE May Gain Advantage in Competition for CBOT

Intercontinental Exchange (ICE) and Chicago Mercantile Exchange (CME) are competing to acquire the Chicago Board of Trade (CBOT).  The CBOT board currently favors CME, and the deal is scheduled for a shareholder vote on July 7.  However, ICE is expected to announce today that it has agreed to a settlement of a longstanding dispute between the Chicago Board Options Exchange and CBOT's parent, on condition that CBOT becomes part of ICE, which would give ICE a competitive advantage over CME.  See WSJ, ICE Finds a Chicago Ally.

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