The letters are stamped all over the hallways of Chicago’s giant skyscrapers and grand office buildings. DRW, IMC, CME, Cboe.These are some of the derivatives firms that collectively handle trillions of dollars a year in trades, greasing the wheels of global markets with everything from stock options to corn futures. Most of them have called Chicago home for decades — providing thousands of jobs within the city’s $75 billion finance industry. Now, the firms’ commitment to the Windy City is being tested by some $800 million in taxes proposed by a new mayor staring down a budget gap that’s swelled to half a billion dollars.
100% sure they are leaving sooner or later. Most traders think sooner is better than later.
The Railroader
2 years ago
(In way over his head) Mayor Brandon will have to get used to hearing another three-letter word from the businesses he seeks to shake down:
Bye.
Illinois is a mess with imbeciles like Alexi Giannoulias and trust fund babies like JB the Hutt in positions of power. Chicago is in some real pretty schite with Brandon in charge.
Detroit 2.0
Giddyap
2 years ago
BJ the Race Clown will tax these cash cows — and they can leave the next morning with the flip of a switch
susan
2 years ago
High-speed data comm lines to CBOT/CBOE LaSalle St. are the only reason tape-racing/tax-paying algo trading still remains in Illinois.
debtsor
2 years ago
When there are articles like this in financial rags, it means the industry has already made the decision to move.
Because communists destroy. That’s what communists do.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
100% sure they are leaving sooner or later. Most traders think sooner is better than later.
(In way over his head) Mayor Brandon will have to get used to hearing another three-letter word from the businesses he seeks to shake down:
Bye.
Illinois is a mess with imbeciles like Alexi Giannoulias and trust fund babies like JB the Hutt in positions of power. Chicago is in some real pretty schite with Brandon in charge.
Detroit 2.0
BJ the Race Clown will tax these cash cows — and they can leave the next morning with the flip of a switch
High-speed data comm lines to CBOT/CBOE LaSalle St. are the only reason tape-racing/tax-paying algo trading still remains in Illinois.
When there are articles like this in financial rags, it means the industry has already made the decision to move.
Because communists destroy. That’s what communists do.