Eurex gains CFTC approval for US derivatives exchange

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.

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