Nobody expected the comments of the Chicago exchanges on
Eurex's DCO application to express anything but strenuous
opposition, but the force of the attack launched last week was
While CBoT and CME have a natural inclination - duty, even -
to defend their corner, some of their attempts to cast Eurex as
the sinister villain of the piece reach uncomfortably towards
xenophobia. In fact, with the possible exception of English
football songs, it is hard to recall a greater degree of
anti-German propaganda since wartime images of nuns being
bayoneted by the marauding Hun.
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