Exchanges Place Their Bets On Cross Rates But Is There Enough Liquidity To Go Around?
EXCHANGES
Now that two of the three U.S. exchanges have received regulatory blessings, and the third likely to get official approval in the next few weeks, the much anticipated battle to trade cross rate futures and options appears to be coming to a head. While participants were generally enthusiastic about the contracts, few believe that the crosses will prove more active than the underlying contracts and none expect that there will be enough liquidity for all three exchanges.
While this may well be "the
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