A Dimmer Future For Currency Futures?

With the dollar plunging, the Japanese yen and German mark soaring, and other major currencies gyrating, it would seem like boom times for exchanges that trade futures and options on currencies. But that's not the case. Business lags badly, with volume of Chicago Mercantile Exchange currency contracts down 17% in the first five months of 1995, after a 3% decline last year. At the Philadelphia Stock Exchange, the other major player in listed currency derivatives, turnover plunged 49% through May--on top of a 23% drop in 1994.

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