This Brave New orld Thomas Donovan And Patrick Catania Of The CBOT Last issue, STOCKS & COMMODITIES presented one take on the future of exchanges during our interview with Leo Melamed, chairman emeritus of the Chicago Mercantile Exchange. Meanwhile, across town at the Chicago Board of Trade, the competition isn’t sitting back either. Fresh from wrapping up a major alliance with Eurex, which is arguably Europe’s premier exchange, Thomas R. Donovan, president and chief executive officer, and Patrick Catania, executive vice president for business development of the CBOT, spoke with S&C to make sense of all the changes in store for personal traders, floor traders, and institutional traders as the foundation beneath the old ways of doing business disappears. S&C Interim Editor John Sweeney, an open skeptic on the viability of exchanges, found Donovan and Catania in agreement with the Merc on one point: if they don’t misstep, they’re going to be the leaders in this brave new world. Donovan and Catania spoke with Sweeney via telephone on October 14,1999. |
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