Traders confirmed last week that the 'flipper' responsible for recent anger at Eurex (see FO Week vol 9 no 8) was still active in the market. A Eurex spokesperson said that the exchange's investigation into it was ongoing, but declined to put a timescale on the process or discuss details of meetings with traders.
However, market sources anticipated a conclusion to the investigation in the next few weeks.
The row revolves around one market participant - known as the flipper - placing orders large enough to move the market, which are then reversed (or 'flipped') when the market has moved in the flipper's favour, but before the original...