http://www.finextra.com/fullstory.asp?id=18889 22 August 2008 - 10:54 Nyse Euronext gears up for futures launch Transatlantic exchange Nyse Euronext is to launch a new US futures exchange in September after the Commodity and Futures Trading Commission (CFTC) approved its application to become a designated contract market (DCM). The new exchange - called Nyse Liffe - will go live on 8 September. At launch, Nyse Liffe will move some gold and silver futures contracts from the Chicago Board of Trade (CBOT) to the new trading platform. Nyse Euronext acquired CBOT's precious-metals business from CME Group in March this year. Nyse Liffe will continue to deploy the Liffe Connect trading platform previously used by Cbot. CME Group will provide clearing services for precious metals through the first quarter of 2009, says Nyse Euronext. In addition, certain operational functions and market surveillance activities will be outsourced to Liffe and the National Futures Association (NFA). Commenting on the move, Duncan Niederauer, CEO, Nyse Euronext, says: "The US futures market holds great promise for Nyse Euronext, and we hope our entry will foster greater competition, innovation, and efficiency for the benefit of all market participants." In June the exchange appointed Thomas Callahan as executive vice president, head of US futures. Callahan joined Nyse Euronext in July after a 15-year career at Merrill Lynch where he was most recently head of global financial futures and options, and was responsible for global listed derivatives for debt, equity, FX and commodity products.
FINALLY !!! maybe there will be some liquidity out there again in the yi yg zi zg metals futures contracts if they get a few good market makers , arb'ers , hedge fund biz yada yada yada that was lost to the comex when they went gung ho into globex electronic