BOTCC strikes metals derivatives deal with CMXchange

The agreement marks another step in the strategy of the world’s largest clearing house, adopted in Q3 2000, to diversify business away from its traditional dependence on the Chicago Board of Trade (CBOT), which accounts for about 90% of its revenues.

BOTCC experienced tough times in 1998, when the CBOT was in merger discussions with the Chicago Board Options Exchange, which would have put the BOTCC out of business. After the deal failed to materialise, the BOTCC’s management plotted a new di