CBoT launches German contracts

12 Apr 2004

Chicago Board of Trade (CBoT) executives said last week that the exchange was confident of bettering the performance of Eurex US with its new Bund, Bobl and Schatz futures, following the announcement of a 23 April launch date for the products.

CBoT's senior vice president of business development, Bob Ray, told FO Week that...

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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.