News Releases

 
FOW Names NYSE Liffe U.S. DTCC GCF Repo Index® Futures as ‘Interest Rate Contract of the Year’
-Noting GCF is ‘seen as a more accurate reflection of funding costs’ andbetter hedge against real exposures’-
-New All-Time Record Volume of 8,615 Contracts Traded on Dec. 17-

NEW YORK, Dec. 18, 2012 ─ NYSE Liffe U.S., the innovative U.S. futures exchange of NYSE Euronext (NYX) is proud to announce that its new futures contracts based on the DTCC GCF Repo Index® were named ‘New Contract of the Year’ in Interest Rates by Futures and Options Week (FOW) Magazine at the 2012 FOW International Awards in London.  Additionally, GCF Repo Index futures traded a new record of more than 8,600 contracts with open interest approaching 52,000 on Monday, Dec. 17.

As a potential new benchmark product offering exposure to the U.S. short-term interest-rate market, the DTCC GCF Repo Index® is the first and only index to list average daily interest rates for centrally cleared repurchase agreements and is based on executed, fully collateralized transactions.   Since launch in mid-July 2012, NYSE Liffe U.S. has traded more than 375,000 total contracts valued at nearly $2 trillion as of December 17.  

“We are gratified to receive this recognition from FOW, its panel of industry judges and our global customers.  In July, we launched GCF Repo Futures in our ongoing effort to provide the market with innovative new products that address the capital and risk management needs of our customers,” said Tom Callahan, CEO, NYSE Liffe U.S.  “From day one, GCF has been broadly adopted by tier one global banks, asset managers and hedge funds as it offers the first-ever risk management tool in the global futures industry tied to secured funding rates.   We are grateful for the market’s continued support and we remain even more committed to delivering innovative products and building more efficient, customer-focused markets.”

Futures on the DTCC’s GCF Repo Index are designed to help traders better manage their interest-rate exposure by tracking the multi-billion dollar General Collateral Finance (GCF) Repo® market across the Cash Treasury, Agency and Agency Mortgage-Backed sectors.   Futures on the DTCC GCF Repo Index®are licensed to NYSE Liffe U.S. and clear at NYPC.  Daily volume in the GCF product family can be found here on http://www.nyx.com/GCFand index information here on http://www.dtcc.com.

Video for Futures on DTCC GCF Repo Index®http://www.youtube.com/watch?v=Jj3KgdgW7A8&feature=youtu.be

About DTCC GCF Repo Index® Futures
The DTCC GCF Repo Index® is thefinancial services industry’s first index to list average daily interest rates for General Collateral Finance repurchase agreements for the $300 billion GCF Repo® market, which clears at DTCC’s Fixed Income Clearing Corporation (FICC).  Calculated using actual, fully-collateralized transactions in the underlying cash Treasury, Agency and Agency Mortgage-Backed markets, the DTCC GCF Repo Index® enables traders to more effectively manage interest rate exposure via this new, highly transparent short-term benchmark.  Traded exclusively on NYSE Liffe U.S., these products clear at NYPC, and therefore benefit from some of the features offered by this innovative clearing mechanism that combines the capital efficiencies achieved by calculating margin requirements based on the total risk within a portfolio of both FICC-cleared repos and futures.  Trading on the LIFFE CONNECT® platform, these futures are listed alongside the highly liquid NYSE Liffe U.S. Eurodollar and US Treasury futures.  For more information and market data, please visit: http://www.nyseliffeus.com.

 

About NYSE Liffe U.S.
A unit of NYSE Euronext, NYSE Liffe U.S. is a partnership with six leading market participants, Citadel Securities, DRW Ventures LLC (an affiliate of DRW Trading Group), GETCO, Goldman Sachs, Morgan Stanley and UBS.  It is a global, multi-asset class futures exchange trading a diverse range of products, including the successful Eurodollar and U.S. Treasury interest rate products, a suite of MSCI-based futures, liquid precious metals contracts and contracts based on the DTCC GCF Repo IndexTM.  NYSE Liffe U.S. utilizes the proven LIFFE CONNECT® trading platform designed and maintained by NYSE Technologies that matched nearly 4.5 million contracts per day on the NYSE Liffe markets in Europe in 2011.  The exchange offers a wide range of global connectivity options allowing members to efficiently transact on the platform in a highly cost efficient manner.  For more information, please visit www.nyseliffeus.com



Contact: Eric Ryan
Phone: 212.656.2411
Email:  eryan@nyx.com