LIFFE to Launch FTSE EuroStars Index Futures and Options on June 29

LIFFE will launch the FTSE EuroStars Index Futures and Options contracts on June 29. These contracts are based on the FTSE EuroStars Index calculated by FTSE International Ltd. The futures contract will be listed on LIFFE CONNECT™ for Financial Futures (version 2.0) and the option contracts will be listed on LIFFE CONNECT™ for Equity Options (version 1.0). The FTSE EuroStars Index futures contract will have a contract size of EUR20 per index point and have delivery months of March, June, September and December (nearest three available for trading). The delivery day will be the first business day after the Last Trading Day and the last trading day will be 13:00 (CET) on the third Friday in the delivery month. In the event of the third Friday not being a business day, or that one or more of the relevant stock exchanges is not open for normal regulated trading, the last trading day shall normally be the last business day preceding the third Friday. The quotation will be in index points and the minimum price movement will be 0.5 (EUR10). Trading hours on LIFFE CONNECT™ will be 10:00 to 17:00 CET. The FTSE EuroStars Index options contract will have a contract size of EUR10 per index point and have delivery months of March, June, September and December plus such additional months that the 3 nearest calendar months are always available for trading. Options may not be exercised before the last trading day. The last trading day will be 13:00 (CET) on the third Friday in the delivery month. In the event of the third Friday not being a business day, or that one or more of the relevant stock exchanges is not open for normal regulated trading, the last trading day shall normally be the last business day preceding the third Friday. The quotation will be in index points and the minimum price movement will be 0.5 (EUR5). Trading hours on LIFFE CONNECT™ will be 10:00 to 17:00 CET. Cash settlement is based on the Exchange Delivery Settlement Price. The Exchande Delivery Settlement Price is based on the average values of the Index every fifteen seconds between (and including) 12:40 and 13:00 (C.E.T.) (11:40 and 12:00 London time) on the Last Trading Day. Of the 81 measured values, the highest 12 and lowest 12 will be discarded and the remaining 57 will be averaged to calculate the EDSP. Where necessary, the calculation will be rounded to the nearest half index point.