I got an e-mail today saying Russell 1000 and 2000 would have 100% margin offset between Eurex (with the C Corp) and CFE (with the OCC). With 100% margin offset and cash settlement at expiration, isn't this just short of fungibility? Have they ever had that between competing futures exchanges and clearing houses? It's common place in the equity world, but not in the futures. Does this make sense to anyone else? Ratio - Eurex US Leg - Maximum Credit - CFE Leg 5:1 - Russell 1000 - 100% - Russell 1000 1:1 - Russell 2000 - 100% - Russell 2000