Industry sources have suggested that many of the large banks
have shunned Eurex's credit derivatives contacts, amid market
rumours that the major banks are looking to protect their OTC
The credit derivatives contact were launched on 27 March and
volumes have so far kept low, peaking at only 1,216 contacts on
30 March. A spokesman for Eurex, said, "It is fair to say that
the we haven't seen a tremendous amount of trades, but
liquidity was there. Many new products we have launched have
also had a slow start, but first volumes are not indicative of
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