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To: TFF who wrote (12240)7/7/2008 5:41:10 PM
From: TFF  Respond to of 12617
 
NYSE Euronext's Liffe to launch Credit Default Swap contracts in Q4
07.07.08, 5:53 AM ET


PARIS (Thomson Financial) - NYSE Euronext Inc said its London-based Liffe derivatives market will launch contracts for Credit Defaults Swaps on its Bclear wholesale market in the fourth quarter.

The move marks an expansion of Bclear from equity derivatives into a new asset class, the transAtlantic financial markets operator said.

Liffe CDS contracts will address the operational and systemic risk concerns that are at the forefront of discussions between regulators and industry bodies, the company said.

'Liffe is the first exchange to work with the market by launching CDS contracts rather than credit futures or options, and by allowing business to be pre-negotiated and booked into a secure exchange and clearing house environment,' Garry Jones, executive director of business development and strategy at Liffe, said in a statement.