The Chicago Board of Trade unveiled a...

The Chicago Board of Trade unveiled a computerized trading system that will lengthen the trading day by operating from midnight to 6 a.m. and allow traders to use computers to obtain price information and communicate with each other. The move comes as the board and its rival, the Chicago Mercantile Exchange, respond to allegations of widespread cheating related to a federal uncover investigation of the two operations. The allegations center on abuses of the current trading system, which relies on hand signals and voices. The board also said it will spend $1 million to expand its computerized surveillance system for monitoring trades and increase the fines it can levy to $250,000 from $75,000.