Eurex, Man joint venture seeks new product base
US Futures Exchange (USFE), the joint venture exchange
launched by Man Group and Eurex, was not expected to list
contracts in competition with more established US exchanges.
Instead, the project will be aimed at retail and hedge fund
users, offering a facility for central trading and clearing of
Representatives from both parties refused to disclose what
contracts would be launched but Man Financial's CEO Kevin Davis
strongly hinted that USFE would not follow the lead of its
predecessor, Eurex US, by listing competing contracts. "It
would be a mistake to look at Eurex's past as a window to the
future," he said.
He added that Man already had "excellent" relationships with
existing US exchanges and that it had "no intention of trying
to destroy those markets by cannibalising their business"
through the new project.
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