Reality Check

THE CHICAGO MERC SAYS it is closing in on its archrival, the Chicago Board of Trade. The CBOT is the world's biggest commodity futures exchange, with a first-quarter trading volume of 58 million contracts. But the Chicago Mercantile Exchange, which already bills itself as the "world's largest marketplace" because it has more trading-floor space, now boasts a boost in volume. By redoing the way it counts, the Merc reported 54.7 million contracts in the first quarter.

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