October 14, 2009

 
Germany's Eucomex wheat futures contract has ceased trading as it was unable to compete with the NYSE Liffe Paris milling wheat contract, European traders said Tuesday (October 13).

The decision had been expected for some time as the Hanover-based RMX Risk Management commodities exchange has struggled to attract activity on the wheat futures since they were launched in 1999, said traders.

"There's no room for another bourse," with the Paris and Chicago futures markets already meeting the grain industry's needs, said Olaf Muller, founder of Hamburg-based grain trading firm Amme & Muller. "Hanover works with pigs and potatoes but not with grains."

Eucomex and RMX were not immediately available for comment.