In its 2005 results, Deutsche Börse was forced to take
a €40m reduction in profits at its Eurex
subsidiary as a result of the poor performance of Eurex US.
Despite this, Eurex overall saw its profits increase by 45% on
the previous year, to €253.9m.
Nonetheless, the exchange reiterated its commitment to
finding a role for Eurex US, which chief executive Reto
Francioni - who has also been occupying that role at Eurex on a
temporary basis following the departure of Rudi Ferscha (see
FO Week Vol 11 No 1) - described as "a valuable
Both Deutsche Börse and Eurex have previously said that
the ongoing costs of running Eurex US were relatively small,
despite the exchange's failure to attract significant volume to
US Treasury, index or FX products. Last year Ferscha told
FO Week that Eurex US's annual running costs were in
the E20-25m range, adding that it was also providing some
income (see FO Week Vol 10 No 36).
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