The movement of Eurodollar contracts to the screen continued apace last week with records set on both Chicago Mercantile Exchange (CME) and Euronext Liffe.
CME reported that its Globex platform saw a record 1,193,132 contracts traded on 15 June, 52% of the total Eurodollar volume at the exchange. So far in June, Eurodollar volume on Globex averaged 649,135 contracts per day, an increase of over 500% since January. The previous day, Eurodollars on Liffe reached a record open interest of 92,418, continuing the contract's trend as the fastest growing in the history of the exchange, Liffe said.
As reported last week's issue, the increase in screen trading has had a negative impact on volumes...