NYSE Liffe U.S., the futures exchange of NYSE Euronext, won exclusive rights to trade futures tied to MSCI stock indexes starting next summer, when MSCI’s previous exclusive agreement with the parent of the Chicago Mercantile Exchange is scheduled to end. Terms weren’t disclosed.
MSCI’s current license agreements with CME Group Inc. cover futures on the MSCI EAFE and the MSCI Emerging Markets indexes, and are set to expire in June 2011. At that time, the two indexes and others associated with MSCI benchmarks will be listed on the NYSE Liffe U.S., NYSE Euronext said in a press release in July.
The NYSE is hoping the partnership with MSCI will give its growing futures platform more traction. Investors will have until June 17, 2011, to transition all trading and open interest in all MSCI-linked futures contracts currently trading at the CME to the new exchange.
“In the coming months, we will continue to expand our offering by introducing additional contracts based on MSCI indices,” Thomas Callahan, NYSE Liffe U.S. chief executive officer, said in the press release.
“We anticipate that customers who need to move open interest onto our exchange will want to begin that process well in advance of the June 2011 deadline, and we’ll be working closely with these firms to support them throughout the process.”
The NYSE first launched its futures platform Liffe U.S. in 2008. Last year it listed its first group of equities index futures linked to MSCI indexes. |
