Jefferies officially entered the futures business in September, when it announced the hiring of a rival firm's CEO and the foundation of an entirely new division for the firm. This gutsy move, and its membership of upstart trade group the Swaps and Derivatives Markets Association, which has emerged as an opponent of big banks' dominance of the derivatives space, tells you all you need to know about Jefferies. It has big ambitions and will fight to achieve them.
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