IMD Chicago: Exchanges Carve New Roles in Evolving Regimes

New regulations could see exchanges' business models change significantly in the coming years, whether as a result of over-the-counter instruments migrating to on-exchange trading or as exchanges seek to diversify into new lines of business, according to a panel discussion at last week's event.

Moderator Howard Simons, strategist at Bianco Research, noted that US regulators' apparent desire to push more trading onto centrally cleared exchange-traded models could have a major impact on exchanges