It will be harder for CME to make meaningful inroads into core markets such as European interest rates. Deutsche Boerse's Eurex arm dominates Bund futures, while NYSE's Liffe reigns in shorter-dated Euribor futures. Alas for upstarts, users find spreading business across different platforms costly, because derivatives contracts run for years and require lots of collateral. So breaking a market leader's stranglehold over a particular suite of derivatives can be tricky.