Anti-competitive probe focuses on Amex and CBOE

The investigation, which is being conducted by the US Department of Justice, is with regard to “product allocation agreements” between the CBOE and Amex. The NASD’s annual report states: “While the Amex believes that no product allocation agreement between it and CBOE has ever existed and that the subject of the investigation is without foundation, at this very early stage of the proceedings, it is unable to predict the outcome of the Department of Justice’s investigation, or whether such outcome will have a material financial statement impact.”

In March the Amex Membership Corp agreed to buy back the exchange from NASD, but the sale is still subject to approval from the US Securities and Exchange Commission.

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