The migration of Eurodollar contracts from floor to screen
continued apace last month, with Singapore Exchange (SGX)
taking a volume hit. SGX traded 930,000 Eurodollar in May, down
45% on last year.
Dealers told FO Week Eurodollar migration is
continuing into Globex and Euronext Liffe's Connect.
On 4 June, more Eurodollars were traded on Globex than in
the Chicago Mercantile Exchange (CME) pit for the first time
(933,000 vs 859,000 lots). Meanwhile, Liffe's new contract,
while still a small fraction of CME volume, is reaching 35-40%
of SGX Eurodollar volumes.
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