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 Mercantile Exchange’s credit contract, which launched on June 17; it too has failed to attract any demand

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