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NYMEX Board Approves IT Revamp, Creates Fully Electronic Energy Market
The NYMEX has approved a strategy to overhaul its information technology division and is drawing closer to implementing a plan to demutualize.
CBOE Puts Demutualization on Backburner
While it continues to work diligently to build an electronic trading system, the Chicago Board Options Exchange (CBOE) is taking a wait-and-see approach toward demutualization.
CME Board Approves For-Profit Plan; Proposal Includes Open Outcry Protections
The Chicago Mercantile Exchange last week became the first U.S. exchange to approve a plan for demutualization.
Internet-Based Exchanges in Japan and Europe on Nasdaq's Radar
The Nasdaq Stock Market last week unveiled plans to set up a European equity exchange that will eventually be electronically linked with both its established U.S. market and Nasdaq-Japan.
Crossing Networks Oust the Middleman in Europe
Three crossing networks have sprung up on the European continent allowing buy side fund managers to trade directly with each other. Two are owned by a consortium of financial institutions, signaling a trend toward for-profit trading systems.
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