Eurex unveiled its long-anticipated plans for its Eurex US exchange last week, revealing that Chicago Board of Trade (CBoT) will be first in the competitive firing line.
Eurex announced it will launch its US exchange on 1 February by listing two-, five-, and ten-year Treasury notes and 30-year T-bond futures and options contracts. These contracts are closely structured to the well-established notes and bond contracts offered at CBoT. In addition, Eurex US will offer two-, five- and ten-year contracts on Euro interest rates, as well as Eurex's European equity index contracts such as the Dax and Dow Jones Eurostoxx 50.
Eurex ceo Rudi Ferscha said additional products will be announced in due course; competition for Chicago Mercantile Exchange's Eurodollar contract and an entry into the US equity options market are expected.
With a 20-hour trading day spanning both locations, Eurex hopes to capitalise on US interest in the European contracts...