Eurex: one step forward, ISE: two steps back

05 Aug 2010

Eurex had a satisfactory July, with an average daily volume of 5.6m contracts traded, up 3.7% year on year. But total figures for its derivatives exchanges were pulled down by the 39% fall in volumes at the International Securities Exchange, where ADV was 2.5m.

The total volume...

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“A lot of banks have spent a lot of money calculating the cheapest way to collateralise their positions, and they’ve hired some very bright mathematicians to do it. Why would they gamble all of that by using the cheapest clearing house?”

Senior rates players believe fears of a race to the bottom among clearing houses has been overstated.

Eurex: one step forward, ISE: two steps back

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