Friday, August 31, 2007
The Chicago Board of Trade and the Chicago Board Options Exchange are engaged in a dispute over who owns the options exchange (which is planning to go public). CBOT says its members own 60% of the options exchange because it provided initial funding in 1973. CBOT members also say that they have the right to trade at the options exchange and that the options exchange has interfered with these rights. CBOE, in turn, says these rights were extinguished in the recent CBOT-CME merger. WSJ, Bickering Exchanges.