On the surface, reforms proposed by a Chicago MercantileExchange panel on Wednesday seem to allay many of the concerns raisedby the government's undercover investigations into trading practiceson Chicago's exchanges.
Look a little deeper, however, and there's less reason to resteasy. Despite exhaustive efforts by the Merc committee, there areenough loopholes that fraud still can find a home in the futuresmarkets.
The rival Chicago Board of Trade is jealous of the publicity theMerc got for its proposals. After all, the Board of Trade announcedcomprehensive improvements in recordkeeping practices in March butgot no attention for the move because "we didn't roll …
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