Matif Says Five Brokers Asked To Withdraw From FX Contracts

Officials at Matif, the French futures market, deny that problems with its two currency options contracts prompted the withdrawal last week of five of its associated brokers. Jacques Werren, executive vice president of strategy and development for the Matif, says the exchange had itself suggested to the five that they were not generating enough business for the contract to justify the reduction in exchange fees they were enjoying.

Werren says that the original 15 associated brokers appointed by