-Over 5% Market Share in Eurodollar Futures-
NYSE Liffe U.S. Achieves New Milestones in Interest Rate Futures Trading
-Exchange Open Interest Exceeds 270,000 in Only Eight Weeks Since Launch of Interest Rate Futures-
-Nearly 3 Million Interest Rate Futures Traded to Date-
-First Customer Block Trades Successfully Executed in Eurodollar Futures-
New York, May 16, 2011 – NYSE Liffe U.S., the U.S. futures exchange of NYSE Euronext (NYX), today announced it has achieved several key milestones further establishing the innovative exchange as viable, liquid and highly efficient competitor in the U.S. futures market. On Friday, May 13, NYSE Liffe U.S. executed over 141,000 Eurodollar futures, a new daily volume record, which equates to 5.1% market share versus CME. In reaching this new daily volume record for Eurodollar futures, NYSE Liffe U.S. traded over 91,000 lots in the central order book and 50,000 lots via block trades. As of May 16, total Open Interest on NYSE Liffe U.S. crossed 270,000 contracts, also an exchange record. The continued growth in open interest represents a strong indication of the diverse client participation and vibrancy of the NYSE Liffe U.S. market.
NYSE Liffe U.S. has traded approximately 2.76 million interest rate futures since the launch of Eurodollar and U.S. Treasury futures in late March. Interest rate futures listed on NYSE Liffe U.S. benefit from the powerful operational and capital efficiencies achieved through New York Portfolio Clearing (NYPC). NYPC delivers unique capital efficiencies achieved by calculating margin requirements based on the total risk within a portfolio of both cash bonds and derivatives combined with a streamlined delivery process allowing for the seamless netting of futures and cash securities.
“We are tremendously grateful to our customers for their support, which has allowed us to achieve these historic milestones for our exchange only eight weeks since the launch of our interest rate futures and NYPC,” said Thomas F. Callahan, CEO, NYSE Liffe U.S. “In particular, we are thrilled that end user customers have recognized the value and liquidity of our platform. The customer that executed the first interest rate block trades on NYSE Liffe U.S. realized a cost savings of approximately $90,000 on these transactions compared to standard CME non-member fees due to the highly efficient fee structure of our platform.”
NYSE Liffe U.S. is a partnership with six leading market participants, Citadel Securities, DRW Ventures LLC (an affiliate of DRW Trading Group), GETCO, Goldman Sachs, Morgan Stanley, and UBS. NYSE Liffe U.S. utilizes the proven LIFFE CONNECT® trading platform designed and maintained by NYSE Technologies. This state-of the art platform matched in excess of 4 million contracts per day on the NYSE Liffe markets in Europe in 2010. NYSE Liffe U.S. offers a wide range of global connectivity options allowing members to efficiently transact on the platform in a cost effective manner.
About NYSE Euronext
NYSE Euronext (NYX) is a leading global operator of financial markets and provider of innovative trading technologies. The company's exchanges in Europe and the United States trade equities, futures, options, fixed-income and exchange-traded products. With approximately 8,000 listed issues (excluding European Structured Products), NYSE Euronext's equities markets - the New York Stock Exchange, NYSE Euronext, NYSE Amex, NYSE Alternext and NYSE Arca - represent one-third of the world's equities trading, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, one of the leading European derivatives businesses and the world's second-largest derivatives business by value of trading. The company offers comprehensive commercial technology, connectivity and market data products and services through NYSE Technologies. NYSE Euronext is in the S&P 500 index, and is the only exchange operator in the Fortune 500. For more information, please visit: http://www.nyx.com.
The Depository Trust & Clearing Corporation (DTCC), through its subsidiaries, provides clearance, settlement and information services for equities, corporate and municipal bonds, US government and mortgage-backed securities, money market instruments and over-the-counter derivatives. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with financial firms and third parties who market these products. DTCC's depository provides custody and asset servicing for more than 3.5 million securities issues from the United States and 117 other countries and territories, valued at $27.6 trillion. Last year, DTCC settled more than $1.88 quadrillion in securities transactions. DTCC has operating facilities in multiple locations in the United States and overseas. For more information on DTCC, visit www.dtcc.com.
Disclaimer and 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 2010 ("document de référence") filed with the French Autorité des Marchés Financiers (Filed on April 19, 2011 under No. D.11-0333), 2010 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.