Better Luck This Time For CME Cross Rates Foreign Denomination Wins Trader Approval
EXCHANGES
If at first you don't succeed, reconfigure the contract and try again. In an unusual move, the Chicago Mercantile Exchange is doing just that on February 26, when it relaunches its Deutsche mark/yen futures and options contracts. The CME, which unveiled a bevy of dollar-denominated cross rate products last May that generated little interest, is hoping that its new foreign denominated contracts will prove more successful.
Although traders surveyed were optimistic about the CME's chances, the
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