Published On: Wed, Sep 22nd, 2010

FTSE 100 Index Futures To Be Available During Asian Trading Day

NYSE Liffe, the global derivatives business of NYSE Euronext, today announced that, from Monday 4 October 2010, it will extend the trading hours of its benchmark FTSE 100 Index Futures contract. 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 said, “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 successful change, 14% of business is now executed after the close of underlying UK cash market.

NYSE Liffe also extended the trading hours for its benchmark Euribor interest rate futures contract in 2007 in order to incorporate the Asian trading day, and in 2008/2009 expanded its Singapore and Tokyo offices to further develop NYSE Liffe’s business in the region. The company has doubled its staff in Asia in the last year and will continue to expand in 2010/2011. NYSE Liffe offers direct access to customers in Japan, Hong Kong and Singapore, and access via order routing to customers in Taiwan, Korea and Australia. In addition, NYSE Euronext continues to develop partnerships with exchanges in many Asian countries including China, Japan, and in the ASEAN region.

1. The FTSE 100 Index is the most widely used UK stock market indicator, trading volume in the FTSE 100 Index futures has increased on an annual basis and now trades an average daily volume of over 150,000 contracts.
2. This extension to the trading hours affects the FTSE 100 Futures Contract on LIFFE CONNECT® only. The FTSE 100 Futures Contract on Bclear, and all other contracts, will not be affected. Note that extended trading hours are already in place for the Euribor Futures Contract and these will remain unchanged.
3. The Contract will be available continuously from 01:00 to 07:50 hours, and then enter a ten minute Pre-Open period between 07.50 hours and 08:00 hours during which, as with traditional Pre-Open periods, orders may be submitted, revised and pulled but no business will be matched. For the avoidance of doubt, the market will not close, and LIFFE CONNECT® will not delete any resting orders from the market.

The LIFFE CONNECT® standard session times for the Contract on and from Monday 4 October 2010 shall be as follows:

FTSE100 Trading Hours

During British Summer Time (BST), which starts on the last Sunday in March and ends on the last Sunday in October, the contract will operate at the same London times, but one hour should be subtracted from the Hong Kong / Singapore times shown here.

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