CME and ELX launch long bond futures
The battle in US Treasury futures trading between Chicago Mercantile Exchange and its start-up rival ELX Futures has intensified with the simultaneous launch of futures on ultra-long bonds (with maturities greater than 25 years) on both exchanges this week.
ELX is also planning to launch lookalike Eurodollar futures, according to New York’s Equity Research Desk. ELX is backed by a consortium of investment banks, including JP Morgan, Deutsche Bank, Barclays Capital and Goldman Sachs.
CBOE delays high speed platformThe Chicago Board Options Exchange will delay the launch of its new C2 options exchange platform until the second half of the year, until the US Securities and Exchange Commission has completed its review of flash trading.The platform will cater to high speed traders. In September, the SEC unanimously proposed “a rule amendment that would prohibit the practice of flashing marketable orders”. The regulator has...