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Lack of trading mars Chicago exchanges’ credit launches

The Chicago Board Options Exchange (CBOE) and Chicago Board of Trade (CBOT) launched their credit derivatives contracts this week – but neither exchange has traded a single contract yet.

CBOE launched its credit default options on June 19; CBOT’s, which are based on the exchange’s own North American Investment Grade (NAIG) index, were launched on June 25.

They follow the launch of the Chicago

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