Eurex USA offering 1 free year of trades

Quote from ElectricSavant:

Eurex USA is offering 1 year of free trades to make its debut. Just heard this on Bloomberg...Perhaps this is old news....


Michael B.
More...

To trade what instruments?
 
They are not offering their whole line....I think it is just a few...I read somewhere in here what the symbols were ....take a peak in this forum....the symbols are there somewhere. The free trades are for their entire product line of electronically traded instrments that they are offering in the USA. (I do not believe they have a pit)

Michael B.



Quote from electron:



To trade what instruments?
More...
 
Eurex US will begin trading on February 1. It will offer 20 hour trading from 8 p.m. until 4 p.m. the following day. Its products will include futures and options on 2-, 5- and 10-year Treasury notes and on 30-year Treasury bonds as well as the world's most liquid derivatives, the 2-, 5- and 10-year contracts on Euro interest rates. It will also include the most liquid European index derivatives, the futures on the European indices DAX® and Dow Jones Euro STOXX 50SM. All European products will continue to be also traded on Eurex's European platform and will be fully fungible with Eurex US' products.
 
Pretty desperate move. Eurex giving their product away. LOL. In the mean time seats in Chicago are in serious uptick mode. Eurex will never make it in the U.S.
 
CHICAGO, Dec 12 (Reuters) - As the planned February debut of Eurex's U.S. futures exchange draws closer, tensions are heating up between the giant German-Swiss exchange and its two biggest U.S. competitors.

The Chicago Board of Trade, the No. 2 U.S. exchange, said in a new 10-page regulatory filing that Eurex's U.S. application should be rejected.

"The CBOT's market integrity itself could be seriously compromised" by Eurex's attempts to clone CBOT Treasury securities and "skim off" market share, said CBOT President Bernard Dan.

The CBOT and No. 1 exchange the Chicago Mercantile Exchange (CME.N: Quote, Profile, Research) were to respond on Friday to an updated Eurex lawsuit that charges them with illegally attempting to block its application for a U.S. futures trading license. Eurex also accuses them of misleading Congress in testimony to a House panel.

Anita Liskey, spokeswoman for the CME, said the exchange did not plan to detail its latest response other than to restate that the suit was "totally without merit." The CBOT said it would provide details of its filing.

Both exchanges responded when the original lawsuit was filed in October.

Eurex on Friday was also said to be zeroing in on a deal to buy the shell of BrokerTec Futures Exchange, an all-electronic U.S. Treasury futures mart that closed on Nov. 26.

BrokerTec, based in Jersey City, N.J., is owned by large Wall Street investment banks that are expected to make up a large part of Eurex U.S. customer base.

Reuters reported on Oct. 1 that Eurex planned to buy BrokerTec as a way of securing the goodwill of major banks.

When it closed for business, BrokerTec shifted its remaining open interest to the CBOT -- some 8,071 contracts in 30-year and 10-year Treasury futures.

Buying what remains of BrokerTec would not violate Eurex's non-compete agreement with the CBOT, which runs through January, said a source familiar with the issue

BrokerTec still holds a U.S. futures trading license that might be useful if Eurex's own application is not approved in time for its planned February start, or is rejected. The Commodity Futures Trading Commission has until mid-March to consider Eurex's application. The new public comment period on the issue runs through Dec. 19.

A Eurex US spokesman said there was no comment on a potential deal with BrokerTec.

The CBOT had no update on reports it plans to list German bund futures identical to those on Eurex -- in effect, taking a move from Eurex's playbook.

"The CBOT is constantly exploring new contract opportunities, including those in the global fixed income markets -- an area where we believe there is strong potential for growth," spokeswoman Maria Gemskie told Reuters.

CBOT's Dan told reporters in October that the exchange would consider listing German sovereign debt futures despite problems that would arise listing such contracts.

"What Bernie said is true -- there are certain obstacles," said a CBOT source who declined to be identified.

"We need contracts to be deliverable to allow cash and futures to converge properly at expiration, and German banks dictate access to German debt. But if necessary we would list Bunds and have a cash-settled contract," he said.
More...
 
It's for market makers only. I just read the press release. I will post it later I'm heading out the door right now. I'm already late.
 
Quote from Pabst:

Pretty desperate move. Eurex giving their product away. LOL. In the mean time seats in Chicago are in serious uptick mode. Eurex will never make it in the U.S.
More...

You are so wrong, it is not funny. Unfortunately, Eurex will overtake this market completely, taking no prisoners.
 
Quote from swoop[TR]:



You are so wrong, it is not funny. Unfortunately, Eurex will overtake this market completely, taking no prisoners.
More...

I really hope so. don't feel like buying a seat in order to pay low fees. I want to pay low fees anytime!
 
You must log in or register to reply here.
Back
Top