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Matif's long-term Ecu contract
Deliverable securities for the September 1998 maturity
Paris, March 17, 1998 - Following consultations with
the Ecu experts group, Matif SA announced the composition of the Ecu
futures bond pool for the September 1998 maturity as follows.
| - OAT 7.50% |
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April 2005 |
| - OAT 7% |
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April 2006 |
| - OAT 5.50% |
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April 2007 |
| - OAT 5.25% |
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April 2008 |
| - Italy 5% |
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May 2008 |
On March 16, underlying securities represented a total amount of
Ecu 15.7 billion.
The pool may be expanded between now and May 18, 1998 - 4 months
before settlement of contracts maturing in September 1998 - when its
final composition will be announced.
Following consultations with the Ecu experts group, Matif SA has
decided not to add other deliverable securities to the pool for the time
being. The Spain 6% issue maturing in January 2008 issue could be
included if its outstanding amount and liquidity were to rise between
now and May 18.
Expanding the underlying pool for the long-term Ecu contract to
include securities of sovereign issuers other than the French state
makes this vehicle a more effective tool for hedging and trading,
against a backdrop of convergence in the run-up to the single currency.
Contact : Antoinette Bouvier-Darpy - Tel: 33 1 40 28 83 89.
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