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| Market: | Amsterdam |
| Products: | Derivatives |
| Date: | 05 June 2009 |
Extended trading hours for AEX index futures
In order to give clients a broader access to trading on its derivatives markets, last year Liffe initiated a two stage plan to extend the trading hours for AEX and CAC40 index futures. The first stage of this plan (launched in May 2008) aimed to:
- Extend the trading hours for AEX index future (mnemonic FTI) from 5:35 pm to 6:15 pm CET. The normal trading session consequently took place from 8:00 am
until 6:15 pm CET. - Extend Globex trading session on CAC40 index future from 8:00 pm to 10:00 pm CET. The Globex trading session consequently took place from 6:15 pm until
10:00 pm CET.
According to their plan, Liffe is setting up the second stage and creating a Globex trading session on AEX index futures.
LCH.Clearnet will update its clearing processes accordingly to Liffe’s schedule.
The creation of this new Globex trading session for AEX index future contract (mnemonic FTI) is scheduled for end of July 2009, with targeted session hours from 6:15 pm to 10:00 pm CET.
Current timetable
| Timetable | Trading Hours (CET) | Clearing hours (CET) | ||
| Product | Normal session | Globex session | Out of expiry date | At expiry date |
| FTI (AEX index future) | 8:00 am - 6:15 pm | No Globex session | 6:30 am – 7:30 pm | 6:30 am – 8:00 pm |
New timetable to be implemented end of July
| Timetable | Trading Hours (CET) | Clearing hours (CET) | ||
| Product | Normal session | Globex session | Out of expiry date | At expiry date |
| FTI (AEX index future) | 8:00 am - 6:15 pm | 6:15 pm - 10:00 pm | 6:30 am – 7:30 pm | 6:30 am – 8:00 pm |
Impacts on Members
The implementation of the Globex session on FTI (AEX index Future) will have no impact on LCH.Clearnet clearing activities. The same rules of management will be applied as those current applying to Globex CAC 40 index futures for example.
The closing of the clearing session will be maintained at 7:30 pm CET (out of expiry date) and 8:00 pm CET (at expiry date). The clearing files and milestones will continue to be sent at the same time as currently.
However, LCH.Clearnet would like to forewarn their Clearing Members so that the in-house consequences of this additional trading session can be examined.
Testing period
LCH.Clearnet SA does not intend to set up a mandatory test session because the launch of this Globex session implies neither technical nor functional changes. However, Clearing Members and ISVs will have the opportunity to perform their own tests on the EUA environment in a free testing mode from the 29th June 2009.
For further information, please contact your LCH.Clearnet SA Product Implementation manager:
Bénédicte Fourrier : +33 (0) 1 70 37 65 36 – [email protected] or your local
Relationship Manager.