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Key-Note Briefing: The London International Financial Futures and Options Exchange presents its new European Equity products and LIFFE CONNECT™, LIFFE's new electronic trading platform

Date 01/05/1999

As part of its overall Euro strategy, LIFFE will offer a suite of futures and options contracts based on six key pan-European and EMU based indices calculated by FTSE International Limited (FTSE) and Morgan Stanley Capital International Inc. (MSCI). To update you on these new European Index products, LIFFE's strategy and its new electronic trading platform, LIFFE invites you to a key-note briefing. Guest speakers from FTSE and MSCI will present their indices.
Australian Stock Exchange Ltd ("ASX") and Sydney Futures Exchange Ltd ("SFE") sign Heads of Agreement for Merger Proposal

Date 01/05/1999

The Australian Stock Exchange Ltd (ASX) and the Sydney Futures Exchange Ltd (SFE) have signed a non-binding Heads of Agreement to facilitate the next stage of the proposed merger of the two entities. Following the unanimous approval of the ASX and SFE Boards, the parties have signed a heads of agreement reflecting in principle agreement on the key commercial, structural and integration issues in relation to the proposed merger. The aim of the merger is to enhance Australia's securities and deriv
ASX Third Party Clearing Flexibility

Date 01/05/1999

Changes to the rules of the Australian Stock Exchange (ASX) have been made to allow third party clearing (3PC) in ASX equities and derivatives markets from Monday, 3 May 1999. Third party clearing is designed to increase flexibility and choice by participants (brokers) in ASX markets. It provides brokers with the ability the avoid substantial fixed costs and balance sheet pressures involved in clearing their own trades. It also paves the way for some market participants to become specialised tr
NYMEX to Change Eastern Electricity Margin Rates

Date 30/04/1999

The New York Mercantile Exchange will raise the initial margins for the June, July, and August 1999 Cinergy, Entergy, and Pennsylvania/New Jersey/Maryland (PJM) electricity futures contracts as of the close of business on Monday, May 3, 1999.
NYMEX Natural Gas Futures Set Electronic Trading Volume Record

Date 30/04/1999

Henry Hub natural gas futures set a record on Wednesday night on the New York Mercantile Exchange ACCESS(SM) electronic trading system when 12,530 contracts were traded, surpassing the previous record of 11,095 contracts, traded during the December 3, 1998, session.

LIFFE To File Request for No-Action Relief from the U.S. Commodity Futures Trading Commission for placing its screens in the U.S.

Date 30/04/1999

Brian Williamson, LIFFE's Chairman announced at the Euromoney Conference on EMU in New York that LIFFE will file a request for No-Action Relief from the U.S. Commodity Futures Trading Commission (CFTC). Brian Williamson said : "Having consulted with many of the most prominent American financial institutions, there is a clear demand to trade LIFFE's dominant euro money market products efficiently and on equal terms with European institutions. The only impediment to providing direct access to LIF
New Financing Opportunities for Emerging-Growth Companies on the Swiss Exchange SWX

Date 29/04/1999

The Swiss Exchange SWX has laid the groundwork for enabling young, rapidly-growing companies to raise capital in the Swiss equities market. The SWX Admission Board approved on 23 April a draft of the corresponding rules and regulations. Only the approval of the Swiss Federal Banking Commission (EBK) needs still to be obtained. It is expected that the Supplementary Listing Regulations will already take effect by summer of this year. SWX and introducing banks have already established contact with
CME Lean Hog Futures Top 50,000 Open Interest

Date 29/04/1999

Open interest in lean hog futures traded on the Chicago Mercantile Exchange (CME) rose to record levels at the close of trading on April 28. The 51,844 open futures positions marked the first time open interest in lean hogs has surpassed the 50,000 mark.
CBOT, CME and BOTCC Announce May 28 Start Date For Cross-Margining And Common Banking

Date 28/04/1999

The Board of Trade Clearing Corporation (BOTCC), the Chicago Board of Trade (CBOT) and the Chicago Mercantile Exchange (CME) have set May 28 as the start date for the recently completed cross-margining and common banking agreements. The cross-margining agreement will provide for reductions of potentially millions of dollars in margin or performance bond requirements for clearing member firms trading correlated interest rate futures and options at both exchanges. The program will comprehensively
TASE to begin testing of new derivatives trading system

Date 26/04/1999

Preparations for computerized trading in derivatives, scheduled tobegin on October 17 1999, are well underway. Software programs for derivatives trading are now at the final stages of development, and TASE's Computers and Operations department will commence internal testing of the systems within the coming weeks. Installation of the new computer equipment has been completed and comprehensive system testing with all stock exchange members are planned for early June.