Chicago Board of Trade (CBT), one of world's largest commodity exchanges, plans to open an Asian office in India
Media Release
Jun. 21, 2006

Chicago Board of Trade (CBT), one of world's largest commodity exchanges, plans to open an Asian office in the country, industry body Assocham said on Tuesday.

This was indicated by CBT chairman Charles P Cares during a meeting with an Assocham delegation in the US, the chamber claimed in a release.

The American exchange was also exploring possibilities to help modernise stock exchanges in the country, Assocham said, adding CBT was in discussions with the "relevant agencies" for the purpose.

The Board has agreed to establish institutional linkages with India and Indian businesspeople to broaden the India-US business relationship, the chamber noted.

"The move is significant for boosting the confidence of investors," the release said.

Assocham president Anil Agarwal was leading the delegation to the US, which met US businessmen from Texas, Chicago and Washington. The delegation returns to India on June 23.

Assocham and CBT also signed a memorandum of understanding in Chicago as part of efforts to promote commercial relationship between India and the US, the release said.

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