Looking to the futures

It is just over two years since Euronext.liffe launched universal stock futures (USFs), but during that period the product has attracted dedicated users, lured by the flexibility and capital efficiencies the contracts offer.

Importantly, that group of dedicated users of Universal Stock Futures USFs is starting to expand. A growing number of hedge fund managers are also turning to USFs because it allows them to short stocks synthetically.

In 2002, USFs worth around a notional E20bn changed hands on

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