Deutsche Börse seeking partner for Eurex US

Deutsche Börse seeking partner for Eurex US

Germany's Deutsche Börse is seeking a partner for Eurex US, the struggling Chicago-based electronic derivatives exchange, according to press reports.

The supervisory board of Deutsche Börse, which co-owns the Eurex derivatives exchange along with the Swiss Stock Exchange, is reportedly meeting today to discuss the future of Eurex US.

Eurex US was launched in February 2004 to compete against the Chicago Board of Trade (CBOT) and Chicago Mercantile Exchange (CME) in trading of US Treasury futures, but has failed to capture a significant share of the market. The exchange has now decided to focus its efforts on currency futures.

According to a Reuters report, the German exchange will step up moves to look for partners for the loss-making US business rather than closing it down. Among the partners being considered are electronic trading platform Archipelago and the Philadelphia Stock Exchange (PHLX).

Rumours have also surfaced that the German exchange is looking for partners with a licence to trade share options in the US, because Eurex US does not have its own licence to do so.

Eurex currently has an antitrust complaint pending against Cbot and CME, which alleges that the two exchanges are still trying to illegally block its entry into the US market.

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