US Futures Exchange (USFE), the joint venture exchange launched by Man Group and Eurex, was not expected to list contracts in competition with more established US exchanges. Instead, the project will be aimed at retail and hedge fund users, offering a facility for central trading and clearing of OTC contracts.
Representatives from both parties refused to disclose what contracts would be launched but Man Financial's CEO Kevin Davis strongly hinted that USFE would not follow the lead of its predecessor, Eurex US, by listing competing contracts. "It would be a mistake to look at Eurex's past as a window to the future," he said.
He added that Man already had "excellent" relationships with existing US exchanges and that it had "no intention...