NYSE Liffe, the global derivatives business of NYSE Euronext, will extend the trading hours of its benchmark FTSE 100 Index Futures contract on 4 October.
FTSE 100 Index Futures will open at 01:00 hours (London time), seven hours earlier than the current opening time. The closing and daily settlement times of the contracts will remain unchanged.
NYSE Liffe is acting to better serve its growing customer base in Asia. This change is also part of NYSE Liffe’s strategy to further develop its business and strengthen its presence in the region.
Jonathan Seymour, director of equity derivatives and OTC services at NYSE Liffe, says: “Recently, we have seen an increasing demand for FTSE 100 Index Futures from both banks and the buy-side in Asia. We are delighted to be able to offer our customers greater access to this contract. These extended trading hours also benefit customers outside Asia, who are keen to access benchmark index futures whenever they are available.”
In June 2008 NYSE Liffe extended the closing time of FTSE 100 Index Futures from 17:30 hours to 21.00 hours London time. Following this change, 14 per cent of business is now executed after the close of underlying UK cash market.