Derivatives give Euronext revenue boost

18 Aug 2003

Strong derivatives trading revenue propped up Euronext in the second quarter of 2003, contributing €79.1m in revenue, up 14% on the same period last year.

Euronext as a whole saw only 6% year-on-year growth, pulling in €265.3m in the second quarter this year. The exchange reported that revenue from...

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“A lot of banks have spent a lot of money calculating the cheapest way to collateralise their positions, and they’ve hired some very bright mathematicians to do it. Why would they gamble all of that by using the cheapest clearing house?”

Senior rates players believe fears of a race to the bottom among clearing houses has been overstated.