TOP 50 BROKERS

摘要

If 2003 was a year of change for the futures industry, 2004 is a year that brokers reaped the benefit of efficiencies brought on by that change. Volume continued to grow at both the retail and institutional levels and the promise of increased exchange competition bore fruit in lower fees and increased volume. As opposed to recent years, 2004 started off with more promise than controversy. The battles within the industry had been fought and the parties struck their own balance of power. The Chicago Board of Trade/Chicago Mercantile Exchange (CBOT/CME) common clearing link was set to launch, Eurex US would start trading early in the year, and Eutonext.Llffe ' was preparing to challenge the CME on eurodollars. But despite a lot of noise in Washington, winners would not be determined by the regulators but by where end users sent their business. The increase in competition had the desired effect of dramatically lowering fees for those who use futures products.