The Chicago Board of Trade has named Bernard Dan its new chief executive officer. Dan, a former CBOT executive vice president, has replaced David Vitale, who resigned on Nov. 6. Vitale, who took the reigns as the CBOT's chief executive nearly 18 months ago, decided to call it quits following a prolonged power struggle with the exchange's members. Simultaneous to handing the CEO job to Dan, the CBOT also promoted Carol Burke from executive vice president to chief of staff -- a newly created post.
A pair of all-electronic single-stock futures exchanges -- Nasdaq-Liffe Markets (NQLX) and OneChicago -- are set for launch on November 8th. NQLX, a joint venture between the Nasdaq Stock Market and the London International Financial Futures and Options Exchange, plans to use Liffe's Liffe Connect system as its core-trading engine. OneChicago, a partnership comprised of the Chicago Board Options Exchange, Chicago Mercantile Exchange and Chicago Board of Trade, will use the CBOE's CBOEdirect platform as its matching engine.
Euronext, a pan-European exchange comprised of a group of derivatives and stock markets spread across London, Paris, Amsterdam and Brussels, plans to complete the conversion of its Amsterdam market to screen-based trading by December 9. Amsterdam used to trade its products, which include equity options, on its floor. But the market has now converted nearly all of its floor-based products to Switch, its electronic-trading system.
The BrokerTec Futures Exchange set a daily-volume record on Nov. 5, trading 27,570 contracts. The previous daily high for BTEX, an all-electronic financial futures market launched last November, was 18,296 contracts.