After the first four days of trading, volumes in Eurex US's newly launched FX contracts have been very low, though growing steadily, as the exchange has dealt with technical problems at the market maker end in Europe.
An executive at one Eurex US FX market making firm told FO Week that volumes have been particularly low, especially considering the honeymoon period contracts often experience in their early stages.
"It's hardly trading to be honest, volumes have been very low since launch. The exchange initially announced there would be around twenty market makers, of which I can see perhaps four or five doing any kind of business. It's not looking good at this stage," he said.
Satish Nandapurkar, president and CEO of Eurex US, insisted to FO Week, however, that the marketplace looked quite good for the fourth day and that he...