Nasdaq OMX Starting Currency Futures Meant for Small Investors
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Nasdaq OMX Group Inc., the exchange operator whose biggest U.S. competitor is getting purchased by a derivatives market, is trying to draw individual investors into currency futures with a series of new offerings.
The company, best known for U.S. equity trading, has designed six contracts that pair the U.S. dollar with the Australian dollar, British pound, Canadian dollar, euro, Japanese yen and Swiss franc. The contract size will be $10,000, low enough that New York-based Nasdaq hopes they will appeal to investors who might not otherwise buy such products.