CBOT Chairman Nickolas J. Neubauer stated, "There have been significant innovations in the tax-exempt sector since 1985, when the original CBOT Muni-bond contract was launched, and after listening to our customers, we have concluded that our current contract is no longer fully meeting the needs of those who trade in the municipal bond market. As the CBOT is a product driven organization, we intend to elevate the quality and effectiveness of the exchange's offerings in the tax-exempt sector. It is our intention to launch a new contract that will be a more liquid and robust financial instrument that better represents today's market for tax-exempt securities."
FTSE Mondo Visione Exchanges Index:
CBOT To Re-Engineer Its Municipal Bond Contract
Date 22/05/2002