CFTC loads dice in favour of futures
Since over-the-counter derivatives were first invented in the 1980s, exchanges have viewed the market through jealous eyes. Over the years, they have made numerous efforts to grab a piece of the action – a notable success being the decision by Atlanta-based Ice to begin clearing OTC energy products in 2002.
Other attempts were less fruitful, such as the listing of futures and options linked to credit derivatives by Frankfurt-based Eurex and three Chicago exchanges in 2007. The failure of those
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