European exchanges look to extended hours

04 Jul 2005

Both Eurex and Euronext Liffe moved ahead with plans to extend trading hours last week, as Eurex confirmed plans to lengthen the trading day in its European market while Liffe went live with extended Euribor hours and a market making scheme to support them.

Eurex CEO Rudi Ferscha,...

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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.