Liffe Eurodollar volume picks up

26 Apr 2004

Euronext Liffe's Eurodollar contracts showed signs of increased trading interest last week, with 21 April seeing a record volume of 23,479 contracts traded. Significantly, this marks the first day that more Eurodollars were traded on Liffe than launch day, 18 March, which saw 13,720 contracts change hands....

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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.