Euro GLOBEX alliance extended to French and Spanish long-term contracts

The cross-trading agreement concluded on 26 June 1998 by French and Spanish derivatives markets within the framework of the Euro GLOBEX® alliance has now been fully implemented, with all products traded by each member market added on. Starting last week, members of MEFF Renta Fija and Matif will thus have direct on-screen access to trading in Matif's 10-year Euro Notional future and MEFF Renta Fija's 10-year Bono future respectively. The first stage of intermarket linkage started in February, when MEFF members gained access to the Euribor contract of which they already account for one-sixth of the total volumes of this common product. Euro GLOBEX® is a European partnership created in June 1998 that links up derivatives markets in France, Italy, Spain and Portugal. The alliance may also be joined by other European markets.