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Stock exchange power play; Arbor leads dissident group agitating for change at CHX.

Publication: Crain's Chicago Business
Publication Date: 11-FEB-08 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Stock exchange power play; Arbor leads dissident group agitating for change at CHX.(News)(Chicago Stock Exchange Inc.)

Article Excerpt
Byline: ANN SAPHIR

Former futures industry kingpin Patrick Arbor is calling for the ouster of Chicago Stock Exchange CEO David Herron, saying the 126-year-old institution is missing out on merger opportunities.

Mr. Arbor, local hedge fund manager Thomas Kornmeier and at least four other dissidents say they control about 25% of the exchange's common shares, which don't trade publicly. They complain that under Mr. Herron, the Chicago exchange, known as CHX, has sat on the sidelines while regional stock markets in Boston and Philadelphia cashed in by selling out to larger exchanges. The CHX, Mr. Arbor says, should be more aggressive about finding a suitor.

"There are all of these creative things going on in this...

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