Charles Carey, the newly elected chairman of the Chicago Board of Trade (CBOT), has said he is committed to bringing a restructuring proposal to a membership vote within "a short time frame".

Carey, who is vice-chairman and partner in the Henning and Carey division of First Futures, was elected CBOT chairman for a two-year term. He took up his position immediately. He also said he will focus on the smooth transition of the exchange to the Liffe Connect trading platform.