Commentary

Jared Dillian
Traders Magazine Online News

Was it Worth It?

In this piece from 10th Man, author Jared Dillian discusses how the ETF revolution is less about ETFs and more about indexing; about how people have come to view stocks less as stocks and more as blobs of stocks.

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Would you feel better if the Chicago Stock Exchange were purchased by U.S. firm or consortium rather than a foreign one?

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Doesn't matter to me

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May 25, 2007

CHX Hits Jackpot with Broker Investments

By Gregory Bresiger

Regional exchanges, with Reg NMS implementation looming and some of them expected to obtain new trade reporting facilities, are hot properties. The Chicago Stock Exchange (CHX) just received a $20 million cash infusion for a minority stake from a bevy of trading heavyweights.

The new CHX Holdings shareholders are Goldman Sachs, Bear Stearns, Bank of America and E*Trade Financial. Dave Herron, CEO of the CHX, said the big brokerages are making these investments in regionals because of competitive pressures. He said the brokerages are looking at the potential duopoly powers of the New York Stock Exchange and Nasdaq.

"As public entities, there is the fear that these two entities may not be as responsive to their needs; that they'll raise fees excessively," Herron told Traders Magazine.