CBOT Chairman Charles P. Carey said, “I believe that the proposed restructuring transactions will enhance the CBOT’s competitive position, while preserving our ability to provide trading benefits and opportunities to our member-owners and customers. Innovation has always been an integral part of the CBOT’s history, and the Exchange’s restructuring plan is yet another example of this longstanding tradition.”
CBOT President and CEO Bernard W. Dan said, “Demutualizing into a for-profit company will enable the CBOT to maximize the value of its business and optimize the many opportunities the Exchange provides to the marketplace. Further, I believe that a modernized corporate governance structure will allow the Exchange to respond more quickly to changes within this dynamic industry.”