Eurex has introduced a new range of incentives to boost trading in Euribor interest rate products, stepping up efforts to challenge IntercontinentalExchange’s Liffe, which dominates the market.

The Deutsche Börse-owned derivatives exchange commands the majority of trading in long-term interest rate products, but trails well behind Liffe in short-term interest rate products with volumes of just 85,895 Euribor futures and options contracts in May. Liffe traded over 18.2 million contracts in the same month, according to the two exchanges' own figures.