LIFFE trades GBP192bn Per Day In April 1999

The nominal value of contracts traded on the London International Financial Futures and Options Exchange (LIFFE) averaged GBP192 billion daily during April 1999, down 14% on March 1999. Total outstanding business in all Euro money market contracts at the end of April exceeded 2,300 billion. Hugh Freedberg, LIFFE's Chief Executive, said "Although April saw quieter trading conditions generally, open interest in LIFFE's Three Month Euribor contracts has grown for the fourth consecutive month, with a 14% increase over March. LIFFE's share of exchange-traded Euribor market volume remains at 87%. This shows that LIFFE continues to provide its customers with the best market for euro-denominated money market products." Open interest, a good indicator of liquidity and long-term use of the market, stood at 6,510,795 contracts, valued at GBP2,738 billion (Euro equivalent 4,162 billion) on 30 April 1999.