Liffe mulls merits of extended hours

22 Sep 2003

Euronext Liffe is considering whether to repeat last week's experiment in extended trading hours for US economic events.

Markets in Euribor, sterling, Euroswiss, Eonia and euro Swapnote products stayed open until 8pm last Tuesday, the day of the US Federal Open Market Committee...

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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.