NYSE Liffe Announces Clearing Relationship With OCC - Clearing Through Options Clearing Corporation To Begin At The End Of The First-Quarter 2009

NYSE Liffe, LLC, the U.S. futures exchange of NYSE Euronext (NYX), today announced that it has chosen The Options Clearing Corporation (OCC), the world’s largest derivatives clearing organization, as its clearing house.  This clearing function will become operational before the end of the first-quarter 2009, with minimal conversion required for NYSE Liffe customers.

“In these volatile times, it was essential for NYSE Liffe to find a strong, established clearing solution to offer unquestionable reliability for our members,” said Thomas F. Callahan, NYSE Euronext Executive Vice President, Head of U.S. Futures.  “As the world’s number one derivatives clearinghouse by volume, OCC is the natural partner for NYSE Liffe.  OCC offers the flexibility, dependability and experience needed to help us build an innovative and competitive U.S. futures platform.   OCC and NYSE Euronext have had a long and successful partnership, and expanding that relationship to include NYSE Liffe puts us in the strongest possible competitive position.”

“OCC is very pleased to have been selected as the clearinghouse for NYSE Liffe.   This decision by NYSE Euronext is a credit to OCC’s futures clearing capability, experienced staff, efficient production processing and state-of-the-art technology, and to our proven risk management,” said Michael E. Cahill, OCC President and Chief Operating Officer. “NYSE Liffe represents an important expansion to the suite of products comprising OCC’s futures clearing business.”

As the first clearinghouse to receive a ‘AAA’ credit rating from Standard & Poor’s, The Options Clearing Corporation manages risk on more open interest than any clearinghouse in the world.    The OCC manages that risk through a three-tiered system of stringent membership standards, appropriate and adequate margin levels and a clearing fund of $4.4 billion.   This arrangement gives NYSE Liffe customers confidence in the security of their margin debts combined with industry-leading technology and an established, cost-effective global clearing solution.

NYSE Liffe, which received Designated Contract Market (DCM) status on August 21 and launched on September 8, 2008, provides a fully transparent, liquid market for 100 oz. gold futures, 5,000 oz. silver futures, options on gold and silver futures, and mini-sized 33.2 oz. gold and 1,000 oz. silver futures.  Utilizing the proven LIFFE CONNECT^(R) trading platform designed and maintained by NYSE Euronext Technology, NYSE Liffe plans to introduce new products and innovative services in 2009.   

For more information, please visit: http://www.nyx.com/nyseliffe