EUROÜ NOUN (BUSINESS WORLD)

Colloquially in finance (especially in the US): a Eurobond, Eurodollar, Eurodollar future, or other item traded on the Euromoney markets (see Euro-). Etymology: Formed by abbreviating Euromoney or any of the other financial terms formed on Euro-. History and Usage: Although probably in spoken use for some time, Euro in this sense did not start to appear in print until the early eighties, at first as a shorthand for Eurodollar future. These futures were traded especially at the Chicago Board of Trade, the New York Futures Exchange (from 1981), and the London International Financial Futures Exchange (from 1982). By the end of the eighties the abbreviated form Euro had become very common in financial writing and was no longer limited to Eurodollar futures. Euros have a very good correlation with domestic CDs--so good, in fact, that maybe the market will not need both contracts. American Banker 9 July 1981, p. 11 Euros tend to remain liquid for a longer period...If people would downgrade the definition of liquidity..., you would find a lot of Eurobonds are liquid. Institutional Investor May 1988, p. 105