Euronext Liffe has revealed that it will be reducing the marketing backing of its Eurodollar futures options.
Speaking at the exchange's half yearly results briefing, Liffe CEO Hugh Freedburg said that the decision had been made because volumes in open interest on the product had "not met with expectations".
He continued, "We obviously recognise that we have obligations to the market, but we are gradually scaling back our marketing inputs to reach a point in which no negative revenue is incurred from the Eurodollar."
The product has had a turbulent history since its introduction in March last year. Initial speculation around gaining regulatory approval meant that the launch date was not widely anticipated and may have resulted in early low volumes (see FO Week Vol 9 No...