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.