CHICAGO (AP) — The Chicago Board Options Exchange has joined the CME Group in threatening to leave Illinois because of higher corporate taxes.
In a statement, the CBOE contends "economic realities," referring to Illinois' boost of corporate taxes earlier this year, could force a move, although it prefers to stay put.
The statement went on to point out trading has become increasingly electronic and can be "easily redirected to competitors in other cities through the flip of a switch."
CME Group, which owns the Chicago Mercantile Exchange and the Chicago Board of Trade, said this week it is studying a possible relocation because of corporate taxes. The announcement came a couple months after manufacturing giant Caterpillar Inc. said it had been courted by other states. Caterpillar has since said it is staying put.
Copyright 2011 The Associated Press.
(AP Photo/M. Spencer Green, file)
In a statement, the CBOE contends "economic realities," referring to Illinois' boost of corporate taxes earlier this year, could force a move, although it prefers to stay put.
The statement went on to point out trading has become increasingly electronic and can be "easily redirected to competitors in other cities through the flip of a switch."
CME Group, which owns the Chicago Mercantile Exchange and the Chicago Board of Trade, said this week it is studying a possible relocation because of corporate taxes. The announcement came a couple months after manufacturing giant Caterpillar Inc. said it had been courted by other states. Caterpillar has since said it is staying put.
Copyright 2011 The Associated Press.
(AP Photo/M. Spencer Green, file)
