Eurex Battle to Come to US

Discussion in 'Index Futures' started by jearnest, Nov 13, 2003.

  1. jearnest

    jearnest Velocity Futures

    Eurex battling away at becoming a US clearing Exchange Eurex US last week at the FIA...concerns are over payment for order flow...the top 10 liquidity providers getting rebates.

    Also, battles over the block orders being executed off of the book...

    Look for the Feb 1. date to come...and Eurex to be approved...

    All US Treasury products due to arrive then...
  2. jearnest

    jearnest Velocity Futures

    Eurex to obtain regulatory services from leading U.S. provider/
    Eurex US to be governed by 12-member Board of Directors

    Frankfurt/Main, 05 Nov 2003
    Eurex US today announced it has signed a Regulatory Services Agreement with the National Futures Association (NFA). Under the terms of the agreement, the NFA will perform market surveillance and trade practice surveillance for Eurex US. The initial term of the agreement is three years, with automatic one year renewals. The NFA is an independent, non-profit organization and currently provides regulatory services for two U.S. exchanges.

    "With our Regulatory Services Agreement with the NFA, Eurex is partnering with the leading U.S. provider of regulatory services. The NFA is Eurex US' preferred choice to conduct market surveillance and trade practice surveillance to ensure that its customers are protected and that trading on the exchange is fair and orderly at all times," said Rudolf Ferscha, CEO of Eurex. "Eurex US believes that a strong regulatory program will protect customers and market participants alike."

    Market surveillance ensures that futures markets are free from manipulative trading, price distortions or market congestions. Trade practice surveillance monitors that customer orders are being treated fairly and all members are following exchange trading rules. In addition, the NFA will assist Eurex US in performing both background checks on potential members and financial and disciplinary checks on a continued basis, ensuring that members meet the appropriate eligibility standards.

    In addition, Eurex US announced further details of its governance structure. The Eurex US Board of Directors will have 12 directors, with at least six representing a cross section of the U.S futures industry. Eurex expects that a majority of the Directors will be United States citizens or located in the United States. "This governance model ensures that a cross section of U.S. market participants - such as futures commission merchants, arbitrage firms and proprietary traders, institutional investors and independent clearers – are included in the decision making process," said Ferscha.
  3. I welcome the competition......great days are coming.....It will be sad to see the PITS die out, however....

    Michael B.
  4. BStrader


    I like Eurex a lot.They are much better than ols LIFFE.Will see how interesting will be their US branch.
    HEY LOL btw,you in Velocity decided to attac this forum?LOL:eek: