-Nearly 15 Million Interest Rate Futures Traded since Go-Live in March 2011-
-Continued Volume Growth and Customer Adoption Across Products-
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New York, Dec. 12, 2011 - NYSE Liffe U.S., the U.S. futures exchange of NYSE Euronext (NYX), today announced it has reached one million lots in total Exchange Open Interest, a major milestone underscoring liquidity across asset classes and continued high levels of customer participation. Less than a year after introducing its suite of Interest Rate futures contracts, NYSE Liffe U.S. has built a competitive exchange platform offering a unique combination of industry-leading technology, capital and operational efficiencies and ground-breaking innovation.
Total Eurodollar and US Treasury futures Open Interest currently stands at 890,000 lots, representing over 87% of the Exchange's total Open Interest. Mini MSCI futures and precious metals futures also contributed 117,000 and 10,000 lots, respectively. NYSE Liffe U.S. currently represents approximately 10% of the total open interest in Eurodollar futures traded on the CME.
"As we approach the end of the year, we are grateful for the overwhelming support of our valued customers, who have enabled us to cross the one million milestone in total Open Interest on NYSE Liffe U.S.," said Thomas F. Callahan, CEO, NYSE Liffe U.S. "As we complete our first nine months of trading interest rate futures, we have quickly built a strong and diverse base of customer participation. Our rapid growth reflects the market's recognition of our unique platform that incorporates the liquidity of our exchange with the capital efficiencies of NYPC."
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 FICC-cleared cash bonds and futures, combined with a streamlined delivery process allowing for the seamless netting of futures and cash securities.
In June 2011, NYSE Liffe U.S. completed the successful migration of over 69,700 lots of open interest in futures based on the MSCI Emerging Markets and MSCI EAFE indices, representing approximately 98% of the average open interest on the CME during the month of May, prior to the roll. In just six months since the migration, open interest in mini MSCI futures on NYSE Liffe U.S. has nearly doubled. These products, along with the NYSE Liffe U.S. precious metals contracts, clear via the The Options Clearing Corporation (OCC).
About NYSE Liffe U.S.
A unit of NYSE Euronext, 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. It is a global, multi-asset class futures exchange trading a diverse range of products, including the successful Eurodollar and U.S. Treasury interest rate products, a suite of MSCI-based futures and liquid precious metals contracts. NYSE Liffe U.S. utilizes the proven LIFFE CONNECT® trading platform designed and maintained by NYSE Technologies that matched more than 4 million contracts per day on the NYSE Liffe markets in Europe in 2010. The exchange offers a wide range of global connectivity options allowing members to efficiently transact on the platform in a highly cost efficient 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.
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.