The US market represents a quarter of Eurex's total transactions, Eurex said. However, its attempt to serve this market in the US, rather than from Germany, has not gone well. Eurex US has faced heavy competition from the established derivatives exchanges, notably the Chicago Mercantile Exchange and the Chicago Board of Trade. In March 2005 it filed a second antitrust suit against its two rivals, claiming they had attempted to block its entry to the US market.
Eurex US was set up in February 2004 at a cost of up to €60 million, according to Hlubek. In late 2004 it broke the 100,000 trades-per-day barrier for the first time. However, this is still a small share of the US market: the Chicago Board of Trade reported 2.3 million trades a day in July.
The week in Risk.net, May 19-25 2017Receive this by email