Spanish Exchange's Peseta Futures Generate Little Interest Initially

Trading in the Mercados Espanola de Futuros Financieros's (MEFF) newly launched currency contracts is still slow but picking up slightly, says a spokesman for Madrid-based futures exchange. MEFF's peseta/Deutsche mark contract has been averaging some 350 contracts a day, while the peseta/dollar contract has been languishing at 90 to 100 contracts per day, says the spokesman. The two contracts began trading September 25.

In response to the slow start, the MEFF has decided to set up a system of