The Chicago Board of Trade (CBOT), in an early effort to head off competition from Eurex, is to offer cheaper electronic access for European traders, the exchange announced.Qualified companies can, from February, access the CBOT’s electronic platform without owning or leasing a seat until July 31, 2005, while exchange fees for companies that take up the offer will be reduced by 50%, from 90 cents to 45 cents a side, the exchange said. The CBOT licenses the Liffe Connect electronic trading platform.
“The permit program is evidence of the CBOT’s aggressive approach to increasing the exchange’s presence throughout Europe and the rest of the world,” said Charles Carey, CBOT’s chairman.
Eurex, the world’s largest derivatives exchange by number of contracts traded, plans to open its own US exchange this year, which will compete directly with the CBOT and the Chicago Mercantile Exchange.
More on Exchanges
Stock exchange group has “excess cash”, says group CEO
Increased volatility will spur demand for risk management tools in Asia
Onshore derivative market is the focus for Osaka Securities Exchange
China exchange developing technique to reduce margin requirements
Sign up for Risk.net email alerts
Sponsored video: Tradeweb
Multifonds talks to Custody Risk on being nominated for the Post-Trade Technology Vendor of the Year at the Custody Risk Awards 2014
Sponsored webinar: IBM Risk Analytics
Nominated for two technology awards
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.