CME And Phlx Yearling Currency Products Sustain Mixed Success

EXCHANGES

The performance of two products launched a year ago by each of the Chicago Mercantile Exchange (CME) and Philadelphia Stock Exchange (Phlx) has been less than stellar, reflecting both dwindling volumes in exchange-traded futures and options and declines in some sectors of the interbank market as well. However, both exchanges seem to be faring better in other new product initiatives.

The two year-old products have shown opposite volume trends: the CME's Deutsche mark 'currency forwards' starte

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