Eurex will launch its US-regulated derivatives market, Eurex US, on February 8, following approval from US regulator the Commodity Futures Trading Commission (CFTC) today.The Swiss-German derivatives exchange issued a statement saying the CFTC had designated Eurex US as a US ‘contract market’.
The move clears the way for Eurex to compete head-to-head with the largest US derivatives exchanges, the Chicago Mercantile Exchange and the Chicago Board of Trade (CBOT) on their home turf.
"This is an important step towards a truly global derivatives market on the Eurex network,” said Eurex chief executive Rudolf Ferscha in a statement. “Together with our customers, our new US equity partners and international regulators, we will work towards the goal of global connectivity with choice of trading and clearing.”
Earlier this week, the CBOT said it plans to launch a number of German government bond futures on its electronic trading platform and slash trading fees. The move appeared to be a direct retaliation to Eurex’s US offensive.
More on Exchanges
Significant global players not on list to join Shanghai Clearing House
Taiex futures set to be followed by other products
New equity options on two exchanges
A collection of articles concerning exchanges in Asia
Sign up for Risk.net email alerts
Nominated for two technology awards
Nominated for post trade technology award
Sponsored webinar: Collateral and counterparty tracking
Isda directors warn on fragmentation, access and liquidity - but expect problems to pass
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.