-Rapid Customer Adoption and Steady Growth Since Launch-
NEW YORK, April 19, 2012 -- NYSE Liffe U.S., the innovative U.S. futures exchange of NYSE Euronext (NYX) today announced that it has surpassed $1 billion in notional value of Block Trades at Index Close or “BIC” trades. NYSE Liffe U.S. launched BIC trading in September 2011 as an innovative way to provide customers the ability to manage the tracking impact of executing large orders relative to the underlying index level by explicitly tying the transaction price to the closing level of the underlying index. Since that time, activity in BIC trades has steadily increased with $381 million transacted in mini MSCI EAFE Index futures and $263 million in mini MSCI Emerging Markets Index futures since March 1 alone.
“We are very pleased with the market’s response to this new trading tool. We created BIC trading to offer our customers the flexibility to unlock the greatest value and efficiency in our markets,” said Cliff Weber, Head of Strategy and Product Development, NYSE Liffe U.S. “In less than a year since completing the migration from CME of futures on MSCI Emerging Markets and MSCI EAFE indices, we have built a robust, vibrant market in these contracts with record volumes and open interest. This $1 billion milestone in BIC trading is just the latest indication of the value of innovation for our customers and the continued strength, liquidity and diverse participation found in our marketplace.”
With nearly 140,000 lots of mini MSCI Index futures currently established on NYSE Liffe U.S., open interest on the mini MSCI Emerging Markets contracts and mini MSCI EAFE contracts have increased over 100% to 82,000 and over 70% to 56,000, respectively since the migration from the CME on June 17, 2011. Average daily volume has also increased nearly 30% over the period to 14,000 contracts daily.
For more information on BIC trading in mini MSCI index futures contracts, please visit: http://www.nyseliffeus.com/equity-indices-block-trade-information and https://exchanges.nyx.com/en/marco-bianchi/customers-asked-we-delivered
About NYSE Liffe U.S.
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MSCI and the MSCI Index names are service marks of MSCI Inc. (“MSCI”) or its affiliates and have been licensed for use by NYSE Liffe US LLC. Futures contracts on any MSCI Index (“Contracts”) are not sponsored, guaranteed or endorsed by MSCI, its affiliates or any other party involved in, or related to, making or compiling such MSCI Index. Neither MSCI, its affiliates nor any other party involved in, or related to, making or compiling any MSCI Index makes any representations regarding the advisability of investing in such Contracts. Neither MSCI, its affiliates nor any other party involved in, or related to, making or compiling any MSCI Index makes any warranty, express or implied, or bears any liability as to the results to be obtained by any person or any entity from the use of any such MSCI Index or any data included therein. No purchaser, seller or holder of this security, or any other person or entity, should use or refer to any MSCI trade name, trademark or service mark to sponsor, endorse, market or promote this security without first contacting MSCI to determine whether MSCI’s permission is required.