UPDATE 1-Vienna Stock Exchange throws in towel on derivatives
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VIENNA, Sept 19 (Reuters) - The Vienna Stock Exchange has decided to halt trading in derivatives from March, it said on Thursday, throwing in the towel in the face of overpowering competition from Eurex.
It is another setback for the venerable bourse whose shrinking volumes have pushed it into cooperation talks that could lead to a merger with its upstart rival in Warsaw.
Options and futures on Austrian shares have been traded on the Eurex exchange in Frankfurt since 2006, it said in a terse statement after a supervisory board meeting.
"We have seen a steady increase in the Eurex exchange and unfortunately a decrease at the Vienna Stock Exchange," a bourse spokeswoman said.
"Eurex is a huge competitor in the derivatives market and we are simply too small."
Statistics on the Vienna Exchange's website show just 13,353 derivatives contracts traded in August compared to over three times that amount on Eurex, according to the German exchange's website.
The Vienna exchange still trades stocks, bonds, certificates and funds. (Reporting by Michael Shields; editing by Keiron Henderson and Elaine Hardcastle)
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