The most actively traded interest rate future in the world has its origins in a time when Europe was in financial turmoil.
Following the end of the second world war the US secretary of state George Marshall wanted to encourage financial stability within Europe. The fear was that post war poverty and unemployment would give rise to a renewed interest in communism and this had to be defeated by a rebuilding program in parts of Europe that had been devastated. Britain will must never forgive itself for overlooking the greatness of Churchill in favour of “socialist” Attlee in the first election after the war. Communism was a very real threat.