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At 10:37 AM 6/13/98 -0500, Tim Morge wrote:
>Robert:
>
>Seat prices have declined dramatically, but not from $900 and some to $200 and
>some thousand...But they are going to go lower.
>Tim morge
Hi Tim, The following extract was posted in the Chicago Tribune this week,
on seat prices:
********************************************************************
Membership seat prices at Chicago's major exchanges are falling fast,
pressured by the threat of electronic trading and impending consolidation.
At the Chicago Board of Trade, a full membership sold Monday for $507,000,
down from a record $857,500 last year. Associate memberships, which confer
the right to trade financial but not agricultural products at the exchange,
sold for as little as $231,000, down from last year's record $575,000.
Prices are falling across Van Buren Street too, largely because Board of
Trade members can exercise the right to trade at the Chicago Board Options
Exchange. A CBOE membership sold Monday for as little as $440,000, down from
$750,000 March 11 -- a $100,000-per-month decline.
But even those drops can't match the depression at the Chicago Mercantile
Exchange. A full Merc membership last traded May 11 for $385,000, down from
1994's $925,000. The next sale could be lower: A Merc International Monetary
Market seat, which permits trading of financial contracts only, sold Friday
for $246,000. That's down from $305,000 on May 15, and far off its 1994 peak
of $850,000.
Michael Paauwe
mpaauwe@xxxxxxxxxx
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