Matif 3-month Euribor Contract Sets Sustained Pace

Trading in the Matif's 3-month Euribor has averaged 21,500 lots a day since January 4, and on January 6 reached a record of nearly 40,000 lots. Gross open interest amounts to 224,000 lots. The rise in Euribor volumes ha already benefited from the conversion of over 250,000 Pibor contracts into 185,000 Euribor contracts. Remaining gross open interest in the Pibor contracts representing 196,000 lots may be converted up until June 14.