Eurex moves closer to U.S. futures operation

[Socialist Christian]

http://www.forbes.com/markets/newswire/2003/11/21/rtr1157426.html
----------------------------------------------------------------
CHICAGO (Reuters) - The National Futures Association's board has OK'd a deal to provide U.S. market surveillance services for Eurex, putting the German-Swiss exchange closer to opening its U.S. branch.

"The board affirmed the executive committee's decision to enter an agreement to provide Eurex with regulatory services," said NFA spokeswoman Cindy Cain.

Eurex will pay a monthly guarantee to NFA and a per-trade fee on top of that, said Daniel Roth, NFA president. The monthly fee will be $55,000 for the first year, $62,000 for the second and $69,000 for the third, he said.

The 25-member board voted 16 to 2 in favor of the contract with Eurex, the world's largest futures exchange, Eurex said in a statement that welcomed the deal's approval