The programme of seminars at the conference began in its traditional manner with a panel of the world's four largest derivatives exchange leaders. The discussion was kick-started by JPMorgan's Richard Berliand, also chairman of FIA, who put forward a prediction for industry growth to panellists: if the industry continues to grow at its current compound rate of 25%, it will hit 100bn lots within ten years. He asked exchange heads whether they agreed with that target and what was driving exponential growth in futures markets.
Andreas Preuss, newly appointed CEO of Eurex, took up the baton by saying that even heads of exchanges consistently underestimate growth in the futures industry. He claimed that a tenfold increase in as many years, which would equate to 100bn lots, was certainly not out of the question and may well turn out to be a conservative estimate.
He said, "In the past we have...