The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Eurex rises to the top

Derivatives exchanges

Last year Eurex, the Frankfurt-based derivatives exchange formerly known as DTB, emerged as the world's top derivatives exchanges by volume of business, overtaking long-time leader America's CBOT. A few years ago, such a change would have prompted an increased sense of competition between the American and European exchanges. But not now. Eurex has an alliance with CBOT, just as Eurex's main European rival, Liffe, has an agreement with CME. Challenged by new technology and the difficulty of maintaining customer loyalty in face of new market players, Europe and America's leading derivatives exchanges have acknowledged the need to pull together. Indeed Eurex is seeking more alliances in 2000.


This is a turbulent period for exchanges in which apparent winners and losers can swap places surprisingly quickly. Liffe seemed to be in terminal decline when it lost market share in the key European government bond future to Frankfurt in 1998. But it quickly changed its membership structure, its trading systems and even leaped ahead in technology with its electronic trading platform LiffeConnect now being distributed in the US through its partnership with the CME. The CME also has been redefining itself since early 1999 with a strategic plan that is leading it along the road to demutualization.


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree