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Liffe Expands Bclear Into Russia And Eastern Europe

Date 05/12/2007

Today Liffe announced a major expansion of its Bclear service with the listing of flexible Individual Equity Options contracts and flexible Universal Stock Futures (USFs) on Russian Depositary Receipts as well as flexible USFs on Czech, Hungarian and Polish securities.

The new listings will encompass 14 USFs and 3 Individual Equity Options on Russian Depositary Receipts and 31 USFs on Czech, Hungarian and Polish underlyings.

The introduction of these new contracts, alongside the 94 USFs on US securities listed on 21 November, will bring the total number of underlyings available on Bclear to over 850 from 21 countries. Bclear offers the most comprehensive portfolio of single stock futures in Europe.

Garry Jones, Executive Director of Business Development and Strategy, said: “This expansion of Bclear to include underlyings from Russia and Eastern Europe highlights our commitment to meeting requests from our customers. We are pleased to be responding to this demand with this new geographical expansion of our product range.”

So far this year Bclear has processed over 100 million contracts with an average daily volume of 447K, an increase of over 120% on the same period in 2006.

Bclear is the on-exchange administration and clearing service that provides a simple and cost-effective way to register and process wholesale equity derivatives trades through Liffe to clearing at LCH.Clearnet Ltd. This can reduce the counter-party credit, legal and operational risks associated with OTC deals. Bclear enables registration of both ‘standard exchange’ and ‘flexible’ trades in futures and options, allowing customers to execute their business in one single place at a much lower cost.