Migration Of Euronext.liffe's Portuguese Derivatives Products To LIFFE CONNECT® And CLEARING 21® On 22 March - Further Step In Creating Single Market For Derivatives With Brussels, Lisbon, London And Paris Derivatives Contracts Trading On LIFFE CONNECT®

On 22nd March 2004, Lisbon derivatives products will be transferred to Euronext trading and clearing systems: LIFFE CONNECT® and to CLEARING 21®, respectively, bringing Lisbon up to Euronext technical standards and facilitating cross-border activity.

The implementation of LIFFE CONNECT®, the most advanced derivatives trading platform, in Lisbon will widen the distribution of Portuguese equity derivatives products to international customers. It will also give Portuguese customers direct and easy access to Brussels, London and Paris derivatives products already available on the system and to Amsterdam derivatives later this year - increasing the quality of the existing market.

The implementation of CLEARING 21® will allow clearing and netting of transactions on Portuguese derivatives in real time via LCH.Clearnet. From 22 March 2004, CLEARING 21® will be the single clearing platform for all Euronext derivatives and cash products on the continent and will thus benefit Portuguese clearing members who will be able to rationalize their back office infrastructure while extending their cross border business.

Migration is the first step in the ongoing revitalisation plan for the Portuguese derivatives market - this being the functional and technological step. At the same time, Euronext.liffe will be reviewing the existing product range with customers, with a view to identifying potential enhancements to the contracts.

Click here for Euronext system migration schedule.