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Euronext.Liffe To Launch EONIA Futures Contract On 4 February 2003

Date 19/12/2002

Euronext.liffe, the derivatives business of Euronext, has announced that it will list a one-month futures contract based on the Euro Over-Night Index Average interest rate ("EONIA") on Tuesday 4 February 2003.

EONIA represents the average rate on unsecured overnight euro lending transactions in the interbank market. Since its introduction on 4 January 1999, EONIA has become a highly significant money market rate. Cash market deposits linked to EONIA average around €40 billion.

The One-Month EONIA futures contract will trade on LIFFE CONNECT™, the world's most advanced electronic derivatives trading platform, which offers unrivalled speed of execution and flexibility in trading. LIFFE CONNECT™ is the only trading system in the world able to support successfully trading in complex short-term interest rate products.

Simon Raybould, Managing Director of Sales and Marketing at Euronext.liffe said: "Euronext.liffe owns the short end of the yield curve, and our customers are looking to the Exchange to provide a complete range of trading opportunities in this area. The introduction of an exchange-traded EONIA based futures contract will provide the benefits of increased price transparency, ease of execution, and reduced credit exposure. The addition of a One-Month EONIA contract to complement the existing Three-Month Euribor contract will also provide customers with enhanced trading and risk management opportunities at the short end of the market."