Three events over the coming week could impact competition in Europe for years to come, says William Mitting.
Three events in the European exchange traded interest rate
markets over the next week, could open up the market to
competition like never before but few would be against Liffe
emerging on top.
NLX, Nasdaq OMX’s new MTF, announced today it will
go live on Friday. Eurex will relaunch its Euribor contract on
Monday while on the same day Liffe will face Dutch rival TOM
(The Order Machine) in a Dutch court.
All three events will impact how the exchange traded market
will evolve over the coming years. And all three threaten
Race for rates
Not since the Bund moved over to DTB in the mid 1990s has
there been such a serious challenge to Liffe’s
monopoly on its interest rates portfolio. It will now fight a
battle on two fronts to protect Euribor, its flagship
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