MERC, CBOT Seek Ratification Of Globex Joint Venture Pact

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The Chicago Mercantile Exchange has agreed to take a 50 percent stake in the Chicago Board of Trade's Aurora pit- simulation trading system, under a proposed Globex joint venture agreement to be put before the exchanges' respective memberships this month. The proposed agreement raises the prospect of after-hours trading on the Aurora system.

The joint venture accord, covering the operation and ownership of Globex, the futures-trading system under development by the Merc and Reuters Holdings PLC

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