Dollars and Jens
Friday, October 22, 2004
markets in markets
Or in access to them, to be precise. A NYMEx seat sold for $2,000,000 a week ago; that's where the big oil contract trades whose price is quoted on the evening news. A seat on the Kansas City commodity exchange sold for over $100,000 in the past couple days. Meanwhile, a hedge fund has reportedly purchased a few seats on the Chicago Board of Trade, with no intention of using them to trade. I wonder whether those could be leased out.

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