NYSE Euronext U.S. Futures Exchange Gains Designated Contract Market Status from Commodity Futures Trading Commission
--NYSE Liffe to Launch in September--
New York, August 21, 2008 – NYSE Liffe, LLC, the new U.S. futures exchange of NYSE Euronext (NYX), the world’s leading and most liquid exchange group, today received approval from the Commodity and Futures Trading Commission (CFTC) of its application to become a Designated Contract Market (DCM). NYSE Euronext will establish its U.S. futures business on Sunday evening September 7 for trade date September 8 with the transition of 100 oz. gold futures, 5,000 oz. silver futures, options on gold and silver futures, and mini-sized 33.2 oz. gold and 1,000 oz. silver futures from CBOT to NYSE Liffe. NYSE Euronext purchased the CBOT’s precious metals business earlier this year from the CMEGroup.
“We want to thank the CFTC for approving our DCM application less than four months from our initial approach to the Commission,” said Duncan L. Niederauer, Chief Executive Officer, NYSE Euronext. “We are committed to growing our presence in derivatives markets globally. The U.S. futures market holds great promise for NYSE Euronext, and we hope our entry will foster greater competition, innovation, and efficiency for the benefit of all market participants.”
“We are grateful to the CFTC for their support and we look forward to fulfilling the obligations that accompany the CFTC’s designation of NYSE Liffe as a contract market,” said Thomas F. Callahan, NYSE Euronext Executive Vice President, Head of U.S. Futures. “We are working hard to ensure a seamless transition for our clients. We look forward to the launch of NYSE Liffe, and expect that it will quickly become an efficient source of liquidity and price discovery for our 170 NYSE Liffe members and our broad network of global customers.”
NYSE Liffe is implementing a transition plan for precious metals that is designed to minimize the level of change required of market participants. NYSE Liffe will continue to deploy the LIFFE CONNECT(R) trading platform previously used by CBOT. CME will provide clearing services for precious metals through the first quarter of 2009. In addition, certain operational functions and market surveillance activities will be outsourced to Liffe and the National Futures Association (NFA).
About NYSE Euronext
NYSE Euronext (NYX) operates the world’s leading and most liquid exchange group, and seeks to provide the highest levels of quality, customer choice and innovation. Its family of exchanges, located in six countries, includes the New York Stock Exchange, the world's largest cash equities market; Euronext, the Eurozone's largest cash equities market; Liffe, Europe's leading derivatives exchange by value of trading; and NYSE Arca Options, one of the fastest growing U.S. options trading platforms. NYSE Euronext offers a diverse array of financial products and services for issuers, investors and financial institutions in cash equities, options and derivatives, ETFs, bonds, market data, and commercial technology solutions. As the world’s largest exchange group by number of listings and market capitalization, NYSE Euronext is home to over 6,400 listed issues representing a combined $26.7 / 17.1€ trillion (as of June 30, 2008) in total global market capitalization, more than four times that of any other exchange group. NYSE Euronext's equity exchanges transact an average daily trading value of approximately $157.0 /102.7€ billion (as of June 30, 2008 ), which represents more than one-third of the world's cash equities trading. NYSE Euronext is part of the S&P 500 index and the only exchange operator in the S&P 100 index. For more information and free real-time stock prices for all NYSE-listed securities, please visit www.nyx.com.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext’s plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause NYSE Euronext’s results to differ materially from current expectations include, but are not limited to: NYSE Euronext’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext’s reference document for 2007 (“document de référence”) filed with the French Autorité des Marchés Financiers (Registered on May 15, 2008 under No. R. 08-054), 2007 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés Financiers. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.