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Euronext.liffe to launch trade matching service for OTC derivatives

25 November 2005  |  8338 views  |  0 Euronext

European exchange Euronext.liffe is launching Afirm, its new 'off-exchange' OTC post-trade matching service for the wholesale equity derivatives market.

The Afirm service, which will be launched on 28 November 2005, offers affirmation or matching as a route to confirmation for wholesale equity derivatives trades and can be accessed via the Internet or a FpML-enabled system that is integrated into a customer's proprietary application.

Hugh Freedberg, chief executive, Euronext.liffe, says Afirm completes the trio of transactional products announced in April, which includes the exchange's pre-trade price discovery platform, Cscreen, and clearing service for wholesale derivatives, Bclear.

Says Freedberg: "Afirm is the final element of our fully integrated wholesale equity derivatives service. This service will provide customers with an efficient and cost-effective facility for pre-trade price discovery and for submission to clearing or to the Afirm post-trade matching service, on a straight-through processing basis."

Afirm can either be used as a stand-alone service or in conjunction with Cscreen. Users requiring an on-exchange administration and clearing service will also have access to the Bclear service.

Earlier this week Euronext raised its full year earnings forecast for the second time this year after its third quarter net profit more than tripled to EUR71.2 million from EUR22.4m a year ago due to big increases in revenues from stock and derivatives trading.

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