First delivery month of Matif's multi-issuer euro
contract
Paris, June 15, 1998 - The first delivery month of the Euro
All-sovereign contract, March 1999, will start trading on the
NSC-VF system on June 16, 1998.
Deliverable securities are sovereign issues of five Emu
participants: France, Germany, Spain, Italy and the Netherlands. They
comprise:
| France 5.50% |
October 2007 |
| France 5.25% |
April 2008 |
| France 8.50% |
October 2008 |
| Germany 5.25% |
January 2008 |
| Spain 6% |
January 2008 |
| Spain 8.2% |
February 2009 |
| Italy 6% |
November 2007 |
| Italy 5% |
May 2008 |
| Netherlands 5.25% |
July 2008 |
These issues are currently denominated in currencies to be replaced
by the euro, or in Ecu, and will be converted into euro on January 4,
1999.
Additional issues may be included up to November 19, 1998 - four
months ahead of delivery and settlement of the March 1999 maturity -
when the list of deliverable securities will be finalized.
The Euro All-sovereign contract anticipates the emergence of a broad
bond market made up of all the sovereign issues of Emu participants.
The underlying market will thus be significantly larger than for the
Ecu long-term contract: the March 1999 month will be based on issues
representing a total of Ecu 114 billion.
Matif SA is the only futures market to offer a multi-issuer contract
representing the euro zone in addition to its benchmark single-issuer
euro contract, the Euro Notional contract. The first delivery month
for the latter is March 1999 and, like the All-sovereign contract, it
will begin trading on June 16
Contact: Antoinette Bouvier-Darpy, tel. 33 1 40 28 83 89 |
