IN BRIEF

Possible risks from electronic markets and their infrastructure are examined in a paper published in late January by the UK Financial Services Authority (FSA). The paper takes a high-level look at exchange market fragmentation, OTC market concentration, market reliance on new e-trading systems and technology, and the regulatory implications. Download from www.fsa.gov. Comments invited by March 24.

The Chicago Board of Trade (CBOT) intends to split into a for-profit open outcry exchange and an

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