Eurex is to relaunch its Euribor contract imminently in a bid to wrest liquidity from Liffe and rise to the challenge of NLX, writes William Mitting.
In a surprise move, FOW understands that Eurex is close to a
relaunch of the Euribor contract, the highly liquid three-month
STIR contract, following the implementation of its new trading
architecture which enables new functionality including the
Jewel in the crown
The Euribor contract is the prize jewel in the short term
interest rate futures crown and has been traded on Liffe almost
exclusively since its launch in 1998. Last year the contract
changed hands 178m times on Liffe according to data from
Eurex launched a Euribor contract at the advent of the
market in 1998 but the liquidity has always been held at Liffe.
Eurex's Euribor never gained liquidity although it has remained
on the exchange and traded 62,000 times last year.
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