Traders look forward to competition and lower prices as Eurex takes on US incumbents
Eurex's plan to open a US exchange next year was greeted
warmly by FCMs and traders in Chicago with hopes the new
competition will drive down electronic trading costs.
Most said it will be a difficult task to compete with
Chicago Board of Trade (CBoT) and Chicago Mercantile Exchange
(CME), which have shareholders interested in seeing those
exchanges succeed. However, they say that if there is an
exchange with the drive and deep pockets to compete, Eurex
should be taken seriously.
"Eurex has a reputation of giving what their customers
want," said Russ Wasendorf, chairman and ceo of Peregrine
Financial Group in Chicago. "And if their customers think they
should offer US products, then that's what they'll put up."
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