BrokerTec Futures Exchange Dies As Liquidity Dries Up
EXCHANGE TECHNOLOGIES
JERSEY CITY, N.J.--A liquidity shortfall and fierce competition sunk the electronic BrokerTec Futures Exchange (BTEX), which announced last week that it would cease operations Nov. 26.
The BTEX failure was a case of poor liquidity at the outset conspiring to keep liquidity down throughout its short lifespan, analysts say. Ultimately, the market makers stopped their flow of liquidity to the platform, officials say. BTEX may have a second act if Eurex buys it to bolster its foray into the U.S
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