Futures Industry Association Welcomes Euronext Plan To List Eurodollar Contracts

John Damgard, president of the Futures Industry Association, on January 26 issued a statement in response to the Euronext.liffe announcement to offer three-month Eurodollar futures and options contracts, beginning March 18.

"We welcome today's announcement by Euronext.liffe. We are now seeing exactly what Congress intended with the passage of the Commodity Futures Modernization Act of 2000--the emergence of head-to-head competition among the world's leading exchanges," Damgard said.

"The FIA has long supported vigorous and fair competition in the futures and options markets. Increasing competition in these markets benefits customers through lower prices and greater trading efficiencies," Damgard added.