Dumped the balance of the long MGEX vs CBOT intermarket spreads I had. Still like the long March/short May calendars in MGEX and KC and there's not too much downside from here.
On the MGEX memberships, the seller was Urbana Corp, the Canadian closed-end fund that owns shares in a variety of publicly owned and privately owned exchanges. Urbana had about 10% of the MGEX equity with 42 seats, so while this sale of 15 seats raises $1.8 million, it leaves them with 27 seats. The buyer was a private equity firm, Croupier Prive, that is not known for activism.
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