New Designated Market Maker ("DMM") Schemes/Programmes are operating in the Euribor & Euribor Mid-Curve Options Contracts, Eurodollar and Eurodollar Mid-Curve Options Contracts and the Sterling & Sterling Mid-Curve Options Contracts. The Scheme’s/Programme’s aims are to encourage liquidity and the facilitation of customer order flow.

Those customers that have been awarded DMM status have agreed to honour the following market obligations:

1. For 90% of each trading session (as designated by the Exchange), each DMM, upon demand, will be required to quote two way competitive prices and order sizes, either:
      (a) over the telephone; or
      (b) through LIFFE CONNECT®
2. Upon request, each DMM will be required to provide the Exchange with theoretical prices to assist with intra-day modelling and, in particular, settlements publication.

Exemptions:

1. On UK, US and German national holidays, the Exchange will determine which DMM obligations, if at all, should be honoured. (US national holidays only for Eurodollar DMMs)
2. Where intra-day market conditions prevent a DMM from honouring its obligations, for example, over the announcement of significant economic news and during technical issues, the DMM must inform the Exchange at its earliest convenience.

If you would like to find out more information on Liffe’s market making schemes, please contact either your Account Manager, or Liffe’s Interest Rate Derivatives team on:

Telephone: +44 (0) 20 7379 2222
Email: stirs@liffe.com