CBOT Members Vote in Favor of Alliance with Eurex

Eurex, the German-Swiss derivatives exchange, welcomes the result of the vote by CBOT members, which is an expression of the desire to continue the alliance between the world's two largest exchanges, it said. Joint utilization of the Eurex electronic trading system will form a direct link between the two markets. Eurex is convinced that the alliance of Eurex and CBOT will be for the benefit of the exchanges and their market participants. Eurex CEO Dr. Jörg Franke said: "I'm happy about the favorable vote by CBOT members. This decision brings us another step forward in our endeavor to build a bridge across the Atlantic together with our American colleagues. Eurex, the German-Swiss derivatives market, has already shown that it's possible to link two derivatives exchanges across borders. I'm convinced that this can also be done across the Atlantic." David Brennan, CEO of CBOT, said: "This alliance is the right business decision for this exchange to meet and beat the competition in the long and short terms." Details of the alliance format will be released in due course, spokesmen in Frankfurt said.