Derivatives exchanges are concentrating on building market share in equity-based products, despite unequal take-up of the contracts on offer.

The two leading European derivatives exchanges, Frankfurt-based Eurex and its London counterpart Liffe, are fighting a fierce battle for a share of equity-based business, though they are each targeting different market segments. Eurex is expanding its family of non-German equity options, competing directly on Liffe's home turf by targeting the French and Dutch markets. The Dutch initiative began last July and Eurex has built up a 10% share in Dutch equity options.