Eurex down for an hour

17 May 2004

Problems caused by what the exchange called "a delay in the processing of data in some ? products" halted Eurex trading on 10 May. According to the exchange, trading was suspended at 9.03am CET; all products except index products had...

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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.