Missing the train

Listed swap products

If you have been in an underground station in the City of London in the pasttwo months you are more than likely to have seen a row of billboards advertisingthe London International Financial Futures and Options Exchange’s (Liffe)swap futures contract, Swapnote. The exchange has embarked on a major marketingcampaign, and has arranged educational seminars and increased the number of dealersmaking markets in the product. Yet for all its efforts, Swapnote has struggledsince its introduction in March

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