1.   But to achieve these advantages, derivatives exchanges have had to devise institutional arrangements to ensure the absence of default risk.

2.   DTB also is back in talks to form an alliance with the French derivatives exchange, Marche a Terme International de France, or Matif.

3.   Executives at Euronext, which plans to trade the futures on its Matif derivatives exchange, said they are not dismayed.

4.   International derivatives exchanges and their regulators will announce agreements to exchange information on the exposure of their common members to risks in different markets.

5.   The Nasdaq stock market, owned by the National Association of Securities Dealers, also licenses indices tied to its index at several derivatives exchanges.

6.   Similar moves are in the works at other long-established derivatives exchanges, which have lost market share recently to electronic trading firms.

7.   The Chicago Mercantile Exchange officially transformed into a for-profit, shareholder-owned corporation on Monday, becoming the first U.S. derivatives exchange to demutualize.