Brokerage Loses Select Trading Status: A commodities...

Brokerage Loses Select Trading Status: A commodities brokerage headed by the Chicago Board of Trade’s chairman lost its select trading status and faced a struggle for survival after a proposed bailout of its parent company collapsed. Stotler & Co. lost its clearing status after an unidentified investor backed away from an offer to buy a substantial stake in Stotler Group. The financial crisis has grown into a major embarrassment for Karsten Mahlmann, Stotler Co.’s managing partner, who is serving his fourth one-year term as chairman of the world’s largest and oldest futures exchange. Some board of trade members reportedly are calling for his resignation.