NYSE Liffe U.S., the U.S. futures exchange of NYSE Euronext (NYX), today announced that it has successfully completed the migration of open interest in futures on the MSCI Pan-Euro Index from NYSE Liffe’s European futures market to its U.S. platform. The efficient transfer of open interest was accomplished through both central order book transactions and block trades. NYSE Liffe U.S. does not impose any additional fees or surcharges on block trading activity.
“We appreciate the strong support of our customers during the migration of the MSCI Pan-Euro Index-linked futures,” said Thomas F. Callahan, CEO, NYSE Liffe U.S. “We are committed to building a liquid, vibrant market for futures based on MSCI indices and consolidating open interest into our mini MSCI Pan-Euro Index contracts is part of that core strategy. The next step will be migrating futures on the MSCI Emerging Markets and MSCI EAFE indices from the CME in June. We have been proactively working with our extensive global client base to ensure a seamless transition of the over 65,000 lots of open interest in these contracts.”
“We are pleased that NYSE Liffe U.S. , as a licensee of a broad range of MSCI indices is executing its plan to provide a vital marketplace for MSCI index-based futures” said Theodore Niggli, Managing Director and Head of MSCI Indices. “We look forward to working with NYSE Liffe U.S. as it further expands its futures business on MSCI Indices including our flagship MSCI EAFE, Emerging Markets, Pan-Euro and USA Indices.”
On July 12th 2010, MSCI announced that it did not renew its licensing agreement with the Chicago Mercantile Exchange (CME) for futures contracts based on the MSCI EAFE and MSCI Emerging Markets indices. The last contracts available for trading on the CME will expire June 17, 2011. NYSE Liffe U.S. continues to work closely with customers to ensure the orderly transition of these contracts, including a comprehensive testing program during the week of May 9 for firms that do not already have market access. Information regarding the migration of these contracts, market testing and other details, is available at www.nyseliffeus.com or by calling John McGonegal at 212.656.5128.