Euronext Liffe is hoping to benefit from a functionality
advantage in later dated Eurodollar contracts, following
repeated delays in enhancements to Chicago Mercantile Exchange
(CME)'s Globex platform. The introduction of implied butterfly
spread functionality on Globex, slated for last week, has been
pushed back to September.
The delay is part of an extensive upgrade programme,
including enhanced options functionality. Observers noted that
it gives Liffe more time to make headway in the key
battleground of longer-dated contracts. CME has made
significant progress in migrating front month trading onto
Globex, but the back months are still concentrated in the
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