OFF THE FAST TRACK: Scrutiny shadows Eurex US launch

摘要

Throughout the contentious process to establish its U.S.-based futures exchange, Eurex maintained it would be able to launch a 20-hour a day exchange by Feb. 1, 2004. The exchange would allow customers to trade dollar-denominated interest rate products alongside euro-denominated interest rate and equity index products and choose to clear them at either the Clearing Corp. (CC) or Eurex Clearing AG. However, in December Eurex and the CC finalized details of their Global Clearing Link (which was not part of the exchange application) but pushed back implementation of the link until March 28 and listing of Eurex AG prod ucts on Eurex US until Sept. 12, 2004.