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CBOT staves off competition with market-making programme

The Chicago Board of Trade (CBOT) has established an innovative market-making programme for its 10-year interest rate swap futures contract in a bid to maintain market share.

ABN Amro has been appointed market-maker for the contract. Under the terms of the market- making agreement, the Dutch bank will provide a market of at least 250 contracts with bid-offer spreads not to exceed a maximum of 4/32.

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