Dependent Software Vendors?

Eurex's deal with Trading Technologies makes great sense for the launch of Eurex US, but the exchange may get a bumpy ride back home in Frankfurt from other software vendors.

The ISV model has served the exchanges well since it was introduced some years ago, allowing them to get away with not producing their own sophisticated front ends without limiting the technology available to members. While some start-ups were granted an early licence to print money by the dot-com boom, the harsh realities of competition in a burgeoning industry soon set in. A period of...