Jingoism part 2
Readers will recall that last week I wrote about the
first comment submitted to CFTC regarding Eurex's application
for US exchange designation. Those cynical enough to believe
the process would be dominated by partisan national interests
might be heartened to know that the second submission takes the
opposite view to the first. "A successful Eurex US will be a
big advantage for all market participants. CBoT and CME have
had enough time to fully establish electronic trading over the
past ten years -they haven't done so because of the protection
of vested rights. But now it's the time for innovation and
efficiency, that means higher liquidity and lower trading costs
for all." From whence did this geographically impartial comment
originate? One Klaus Gagel, independent futures trader,
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