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For Immediate Release
July 15, 2008
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National Futures Association to provide regulatory services for NYSE Liffe futures exchange
July 15, 2008, Chicago and New York - National Futures Association (NFA) and NYSE Liffe LLC, a wholly owned subsidiary of NYSE Euronext, today announced that they have entered into an agreement for NFA to provide regulatory services for NYSE Euronext's U.S. futures exchange, NYSE Liffe.
NYSE Euronext anticipates that the CFTC will designate NYSE Liffe as a contract market in the third quarter of 2008. Once designation is achieved, the CBOT precious metals complex will be transitioned from CBOT to NYSE Liffe as quickly as possible, and NFA's regulatory services will commence.
NYSE Liffe will continue to use the existing trading platform, which is powered by LIFFE CONNECT® technology, and CME will continue to provide clearing services for the precious metals complex through the end of the first quarter of 2009.
NFA will perform an extensive range of trade practice and market surveillance activities for NYSE Liffe, including processing membership applications, making use of Large Trade Position Reports and other tools to monitor position concentration, and, in consultation with NYSE Liffe's Chief Regulatory Officer, providing a variety of other regulatory services that may be necessary.
Thomas F. Callahan, Executive Vice President, Head of NYSE Liffe said: "NYSE Liffe is delighted to have entered into a regulatory services agreement with the National Futures Association to provide our US futures exchange with the highest levels of post trade market surveillance and trade practice services."
"NFA is looking forward to providing these services for NYSE Liffe," said NFA President Daniel J. Roth. "This is another opportunity for NFA to utilize its unparalleled regulatory expertise and market surveillance systems in the futures industry."
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