Amsterdam, Brussels, Lisbon, London, Paris, New York, Tuesday 25 March 2008 – Liffe, the international derivatives market of NYSE Euronext (NYX), has announced that, following approval from the board of LCH.Clearnet Group Ltd, it is to negotiate a new contract with LCH.Clearnet that will enable it to manage its London clearing operations directly.

Liffe’s proposal will create a new central counterparty, LiffeClear, for the exchange, with LCH.Clearnet continuing to provide important risk management and guarantee functions for the market. As a result Liffe will be able to develop further its service to customers and compete on a level footing with other futures exchanges that own their own clearing houses.

Hugh Freedberg, Group Executive Vice President and Head of Global Derivatives at NYSE Euronext said: “I am very pleased that the board of LCH.Clearnet has agreed to this important change. The direct relationship that ...   more »