US securities firms are still showing little or no interest in offering single stock futures (SSFs), depriving the product of what many observers believe is its biggest potential audience.
Since making their debut with a splash in November 2002, SSFs have struggled mightily to gain traction in the securities industry.
In a short survey of six major stock retail brokerage firms in the United States, FO Week found a glaring lack of penetration for SSFs into the securities world. FO Week spoke to sales reps from Smith Barney, Merrill Lynch, E-Trade, Ameritrade, Charles Schwab and TD Waterhouse to see what they could tell a prospective customer about SSFs and if they could open an account to trade them.
Four of the six firms had little knowledge of them or no idea the product even existed. An Ameritrade representative who had never heard of SSFs asked if the product was new....