Opponents keep powder dry until last minute
The regulatory comment period on the clearing link between
The Clearing Corporation (TCC) and Eurex Clearing ended on
Friday with expectations that the traditional allies and
enemies of Eurex would line up on their usual sides.
As FO Week went to press, Chicago Board of Trade (CBoT) and
Chicago Mercantile Exchange (CME) were both still working on
their comment letters, which they planned to submit on the
deadline day. Exchange officials declined to disclose the
contents of their comment letters prior to submitting them to
the regulator. However, it is expected that both exchanges will
continue their pattern of challenging parts of the Eurex US
rollout by objecting to aspects of the clearing link. Between
them, the two exchanges last year submitted a total of five
comment letters objecting to the launch of Eurex US, and made
numerous public statements in opposition to the exchange.
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