Meanwhile, Down In The Pits ...

Chicago is not the least bit shy when it comes to flaunting its global dominance in the futures arena. The Chicago Mercantile Exchange is moving to buy the New York Mercantile Exchange, one of the world's oldest commodities bourses, for $11 billion.

But the January 28th announcement of preliminary talks could lure in more bidders, including from overseas, and may speed the drive to create alternative markets.

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