War of attrition

Opposition to Eurex's attempts to set up a US futures exchange seems to have something of a Hydra quality - every time Eurex lops off a head, two more grow back in its place.

What ought to have been a straightforward tying up of a loose end - the signing of a regulatory services agreement with NFA - looks like becoming another in a series of pitfalls dug by its opponents. NFA has been examined and approved by CFTC with regard...