European exchanges gear up for swap futures battle
The announcement this week that Eurex is to launch six
currency futures, a deliverable swap product and a money-market
future was welcome, if not totally unexpected because FOW had
already reported the swap future.
CME Group stole a march on Eurex when it launched its
European FX futures in late April but, with the World Cup round
the corner, the Germans might think they pulled one back with
the swap future, given their US rival is surely looking at a
European version having invented the asset class in its home
The LSE is also looking at a European swap future, as first
reported in FOW, and start-up GMEX is also waiting for the
right time to come to market with its version of the asset
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