North America Still Gives ECU Cold Shoulder Market Remains In Europe Even As Unity Looms
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The European Currency Unit hasn't really caught on in North America, in fact, senior bank officials say that many U.S. banks don't even trade them, and that only one, J.P. Morgan, regularly makes markets in the currency. While most believe that activity will pick up, few expect that it will happen soon.
Given that ECU denominated issues now comprise 21.9 percent of all debt offerings in Europe so far this year, up from 9.5 percent for all of 1990, it makes sense that interbank trading in Europe
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