Propping Up the Local Economy


	Propping Up the Local Economy

Tom Van Riper

4-16-2008 11:14 AM

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Tom Van Riper says:

With computers replacing open outcry systems for those trading on the CBOE, a handul of anonymous "prop shops" are largely controlling Chicago's markets.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/db1fb511-8f96-4543-afc0-3dfd58f61e78/5664B67E-46D0-4829-82B4-7B132BF2D26F/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.chicagotribune.com/business/chi-wed-prop-shops-trading-apr16,0,6487314.story" href="http://www.chicagotribune.com/business/chi-wed-prop-shops-trading-apr16,0,6487314.story" style="font-size: 11px;">www.chicagotribune.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.chicagotribune.com/business/chi-wed-prop-shops-trading-apr16,0,6487314.story">
With the computer-led exodus of bodies from exchange floors, highly-secretive prop shops with untold billions of dollars are setting much of the agenda in Chicago's markets. Scattered across the city are more than 30 firms such as Infinium—which trade options and futures with their own, proprietary funds—and their relative anonymity belies their influence.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.chicagotribune.com/business/chi-wed-prop-shops-trading-apr16,0,6487314.story">
These firms help bankroll the liquidity needed for 18.3 million contracts to flow daily through the Chicago Board Options Exchange and CME Group.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.chicagotribune.com/business/chi-wed-prop-shops-trading-apr16,0,6487314.story">
"It's brought an amazing amount of value to the economy of Chicago," said Ben Londergan, co-CEO of Group One Trading and a new CBOE director.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/5664B67E-46D0-4829-82B4-7B132BF2D26F/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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