Missing the train

Listed swap products

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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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