NYSE Liffe US, the new US futures exchange of NYSE Euronext, will launch a family of interest rate futures in the third quarter of 2010 to coincide with the anticipated regulatory approval and launch of New York Portfolio Clearing, its clearing joint venture with DTCC.
NYSE Liffe US will launch Eurodollar futures as well as two-year, five-year, ten-year and 30-year US Treasury futures.
Options on these futures are expected to be launched in fourth quarter 2010.
Interest rate futures listed on NYSE Liffe US will benefit from the operational and capital efficiencies achieved through the NYPC clearing solution.
NYPC will deliver capital efficiencies achieved by calculating margin requirements based on the total risk within a common FICC and NYPC member’s portfolio of both cash bonds and derivatives.
Additionally, all participants that transact US Treasury futures on NYSE Liffe US will benefit from a single-net delivery process at expiry between FICC cash bond positions and NYPC futures positions, substantially reducing settlement risks at delivery.
“NYSE Liffe US is working hard to provide our customers a compelling and unambiguous motivation to transact interest rate futures on our platform, based on capital efficiency, global distribution, operational innovation and strong alignment with today’s leading market participants,” says Thomas F. Callahan (pictured), chief executive of NYSE Liffe US. “Our exchange will continue to respond to the needs of the global futures community to deliver a vibrant, liquid and fully transparent central marketplace for transacting interest rate futures.”
