Germany’s Eurex, Looking for U.S. Exchange Status, Takes Financial Stake in BOTCC
EXCHANGE TECHNOLOGIES
FRANKFURT--The German derivatives exchange, Eurex, has taken a stake in the Board of Trade Clearing Corp. (BOTCC) as part of an agreement for the BOTCC to provide U.S. clearing services for Eurex.
The financial stake follows Eurex’s signing with the BOTCC earlier this year (TTW, June 2), and the announcement of its move into the U.S. market (TTW, Jan. 13).
Formed by the Deutsche Boerse and the SWX Swiss Exchange, Eurex is aiming to gain U.S. exchange status by Jan. 2, 2004, which will present the
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