CBOT Traders, Management Clash Over After-Hours Trading System
EXCHANGES & REGULATORS
Traders at the Chicago Board of Trade (CBOT) have attacked the exchanges' Project A electronic after-hours futures trading system, claiming it is difficult to use, lacking in functionality, inefficient and expensive. Patrick Arbor, chairman of the CBOT, has responded by defending Project A--and the exchange's decision to authorize some $3.5 million in further loans and investments for the troubled trading system.
Project A was launched two years ago after a series of delays (TST, November 28
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