This Brave New orld
And Patrick Catania
Of The CBOT
Last issue, STOCKS & COMMODITIES presented one take on the
future of exchanges during our interview with Leo Melamed,
chairman emeritus of the Chicago Mercantile Exchange.
Meanwhile, across town at the Chicago Board of Trade, the
competition isnít sitting back either. Fresh from wrapping up
a major alliance with Eurex, which is arguably Europeís
premier exchange, Thomas R. Donovan, president and chief
executive officer, and Patrick Catania, executive vice president for business development of the CBOT, spoke with S&C
to make sense of all the changes in store for personal
traders, floor traders, and institutional traders as the foundation beneath the old ways of doing business disappears.
S&C Interim Editor John Sweeney, an open skeptic on the
viability of exchanges, found Donovan and Catania in
agreement with the Merc on one point: if they donít misstep, theyíre going to be the leaders in this brave new world.
Donovan and Catania spoke with Sweeney via telephone on