Clarification Of NYSE Liffe (Formerly Liffe*)/LCH.Clearnet Development Of CDS Clearing

Following LCH.Clearnet’s announcement on Friday 13 February concerning the establishment of a Eurozone central counterparty for Credit Default Swaps (CDS) through LCH.Clearnet SA in Paris and customer enquiries about the status of this initiative and of NYSE Liffe and LCH.Clearnet’s currently operational CDS clearing service, NYSE Liffe and LCH.Clearnet jointly wish to make it clear that:

1. The existing CDS clearing arrangements, initially for iTraxx indices, established between NYSE Liffe and LCH.Clearnet Ltd in London, which have been operational since receiving regulatory approval from FSA on 22 December 2008, remain the only operational clearing solution for CDS in the world today;

2. These U.K. based clearing arrangements are available throughout Europe, including in the Eurozone, and globally, including in the US, where they have already received specific approval from the SEC;

3. NYSE Liffe and LCH.Clearnet plan to extend these arrangements to a wider range of CDS products in due course;

4. 31 institutions have already acknowledged their interest in using these arrangements and are planning or implementing operational connections;

5. LCH.Clearnet’s plans to establish a Eurozone central counterparty for CDS through LCH.Clearnet SA by the end of 2009 are complementary to these existing arrangements;

6. Once LCH.Clearnet SA has published details of how it plans to operate its CDS clearing service for the Eurozone, NYSE Liffe and LCH.Clearnet Ltd will work with LCH.Clearnet SA to deliver synergies for all CDS clearing customers across both the LCH.Clearnet Ltd and LCH.Clearnet SA services;

* On Monday 9 February, Liffe the European based derivatives business of NYSE Euronext changed its name to NYSE Liffe. The US based derivatives business is now called NYSE Liffe US.