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Wednesday May 04, 11:31
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Eurex US gives impetus to European futures exchange
(by Julia Jenson)
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Eurex, Europe’s leading derivatives exchange, has been trailing the Chicago Board of Trade in the US due to flaws in its marketing campaign, regulatory decisions, and steep discounting at the CBOT. These issues led to a great number of derogatory comments on Eurex US.
However, when one considers the international clout Eurex was able to gain due to launch of Eurex US, the step looks to be logical and advantageous. Victory in the competition between the four top derivatives exchanges including Eurex, the CBOT, the Chicago Mercantile Exchange and Euronext.Liffe will depend on the exchange’s ability to win the most traders globally.
Establishment of a “global clearing link” between Chicago and Frankfurt in 2005 will provide for the trade in Bund, Bobl and Schatz and Eurostoxx 50 index futures on Eurex US, using the Chicago-based Clearing Corporation. This makes trading in Eurex specific products less costly and more hassle-free.
Rudolf Ferscha, Eurex chief executive, says: “We have halved the access costs for US traders without giving an inch of our pricing or lowering it whatsoever.”
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