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NYSE Euronext : NYSE Liffe U.S. Surpasses $1 Billion in BIC Trading Value

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04/19/2012 | 05:23pm CEST
NYSE Liffe U.S. Surpasses $1 Billion in BIC Trading Value
-Delivers Greater Flexibility and Control in Accessing Block Liquidity in mini MSCI Futures-
-Rapid Customer Adoption and Steady Growth Since Launch-

NEW YORK, April 19, 2012 -- NYSE Liffe U.S., the innovative U.S. futures exchange of NYSE Euronext (NYX) today announced that it has surpassed $1 billion in notional value of Block Trades at Index Close or "BIC" trades.   NYSE Liffe U.S. launched BIC trading in September 2011 as an innovative way to provide customers the ability to manage the tracking impact of executing large orders relative to the underlying index level by explicitly tying the transaction price to the closing level of the underlying index.  Since that time, activity in BIC trades has steadily increased with $381 million transacted in mini MSCI EAFE Index futures and $263 million in mini MSCI Emerging Markets Index futures since March 1 alone.

"We are very pleased with the market's response to this new trading tool. We created BIC trading to offer our customers the flexibility to unlock the greatest value and efficiency in our markets," said Cliff Weber, Head of Strategy and Product Development, NYSE Liffe U.S.   "In less than a year since completing the migration from CME of futures on MSCI Emerging Markets and MSCI EAFE indices, we have built a robust, vibrant market in these contracts with record volumes and open interest.  This $1 billion milestone in BIC trading is just the latest indication of the value of innovation for our customers and the continued strength, liquidity and diverse participation found in our marketplace."

With nearly 140,000 lots of mini MSCI Index futures currently established on NYSE Liffe U.S., open interest on the mini MSCI Emerging Markets contracts and mini MSCI EAFE contracts have increased over 100% to 82,000 and over 70% to 56,000, respectively since the migration from the CME on June 17, 2011.  Average daily volume has also increased nearly 30% over the period to 14,000 contracts daily.

For more information on BIC trading in mini MSCI index futures contracts, please visit: http://www.nyseliffeus.com/equity-indices-block-trade-information and https://exchanges.nyx.com/en/marco-bianchi/customers-asked-we-delivered

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 and liquid precious metals contracts.  On July 16, 2012, the exchange plans to launch exclusive new futures 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

Disclaimer and Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext's plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext's current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause NYSE Euronext's results to differ materially from current expectations include, but are not limited to: NYSE Euronext's ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext's 2011 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés Financiers. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.

MSCI and the MSCI Index names are service marks of MSCI Inc. ("MSCI") or its affiliates and have been licensed for use by NYSE Liffe US LLC. Futures contracts on any MSCI Index ("Contracts") are not sponsored, guaranteed or endorsed by MSCI, its affiliates or any other party involved in, or related to, making or compiling such MSCI Index. Neither MSCI, its affiliates nor any other party involved in, or related to, making or compiling any MSCI Index makes any representations regarding the advisability of investing in such Contracts. Neither MSCI, its affiliates nor any other party involved in, or related to, making or compiling any MSCI Index makes any warranty, express or implied, or bears any liability as to the results to be obtained by any person or any entity from the use of any such MSCI Index or any data included therein. No purchaser, seller or holder of this security, or any other person or entity, should use or refer to any MSCI trade name, trademark or service mark to sponsor, endorse, market or promote this security without first contacting MSCI to determine whether MSCI's permission is required.

Contact: Eric Ryan Phone: 212.656.2411 Email:  [email protected]
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