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Futures open interest will follow cleared swaps, says Charlotte Crosswel

Charlotte Crosswell

In the spring of 2012, Nasdaq OMX Europe president Charlotte Crosswell spied an opportunity. It was not long after regulators had thwarted the merger between the parent companies of Europe's largest futures exchanges, Eurex and Liffe, and the latter had quickly announced plans to set up its own derivatives clearing house in London, ditching LCH.Clearnet. To Crosswell, this gave Nasdaq a chance to break into the lucrative interest rate futures market – if Nasdaq could clear at LCH.Clearn