Court will wait to rule on CBOT rights

(Reuters) - CME Group Inc., the world's largest futures exchange, was created with the merger of CBOT Holdings Inc. and Chicago Mercantile Exchange Holdings Inc. in July. The CBOE is the largest U.S. options market.




The exercise rights allow full members of the Chicago Board of Trade to trade options on CBOE without owning CBOE membership.


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CBOT says CBOE trying to quash trading rights

(Reuters) - CBOE, the largest U.S. options mart, has been attempting to
end the historic right held by some Board of Trade members to
also trade options at CBOE, known as the exercise right.




The options mart contends that if CME absorbs CBOT to
create CME Group Inc., there will no longer be CBOT members who
qualify for CBOE trading rights.


Read more at Reuters.com Mergers News

U.K. Pound Gains Before Bank of England Minutes Back Case for Higher Rate

(Bloomberg) -- The pound rose to the highest in more
than a week against the dollar on speculation the minutes of the
Bank of England's last meeting will reinforce the case for higher
interest rates.

Since the June 7 meeting, Governor Mervyn King and policy
maker Paul Tucker have again expressed concern about inflation,
underpinning expectations of an increase in borrowing costs. The
BOE will release the minutes on June 20. The pound also gained to
near an 11-year high versus the yen, as accelerating house prices
added to the case for higher rates.


Read more at Bloomberg Currencies News

U.K. Pound Advances on View Further Rate Increases May Spur Carry Trade

(Bloomberg) -- The pound rose versus the dollar after
Bank of England Governor Mervyn King signaled he may raise
interest rates again, prompting speculation the currency will
continue to benefit from so-called carry trades.

The U.K. currency climbed for the first day in five, rallying
from its lowest in two months, after King said late yesterday the
BOE ``may need to take further action'' to contain inflation. The
bank has raised rates four times since August to a six-year high,
improving the allure of U.K. assets.


Read more at Bloomberg Currencies News