LIFFE Offers Voluntary Conversion of Existing Euro LIBOR Open Interest into Euribor

The London International Financial Futures Exchange (LIFFE) will provide a voluntary position conversion facility for transferring Three Month Euro Libor futures and options positions into Three Month Euribor futures and options positions. This facility will be provided on Wednesday February 17, 1999 and follows the success of LIFFE's voluntary conversion auction which enabled LIFFE's customers to convert Three Month Euromark futures positions into Three Month Euribor contracts on January 19. Since then, LIFFE's Euribor open interest has risen to a nominal value of 495 billion euros, putting LIFFE well ahead of other exchanges.