Eurex today announced it is in advanced talks with US regulators and market participants to prepare for a January 2004 launch of its own US exchange, when a/c/e (Alliance/CBOT/Eurex) formally ends."While this is first and foremost a technology agreement, the CBOT and Euronext.Liffe have also agreed to co-operate on a variety of product and distribution initiatives," said Hugh Freedberg, chief executive of Euronext.Liffe. The exchanges will make further announcements once research and development on "a number of joint product opportunities" have been completed, Freedberg added.
“This new and improved functionality will provide the CBOT with a competitive advantage in a rapidly growing market,” said CBOT chief executive officer Bernard Dan. “We anticipate a seamless transition to the new platform over the next twelve months, as the majority of our current electronic trading volume comes from customers and members who are already established users of Liffe Connect and are familiar with the functionality and benefits offered by the platform.”