Euronext Liffe's plan to extend the trading hours of its Euribor futures to cover Asian trading hours has been met with discontent by many arcades and propriety trading houses which think their profits will suffer as a consequence.
The consensus is that the new opening times, designed to accommodate Asian traders, will not attract large volume. In addition, arcades will need to stay open for longer to cover their positions, something that they feel will impact negatively on their profits while even smaller brokers will have to stay open for clients.
"There will be low volumes, but there will be a small minority of people that will want to use it. Therefore, we have to...