Blocktoberfest: NYSE Liffe U.S. Processes Its First BIC Trades


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From my colleague, Cliff Weber, Executive Vice President, US Futures Trading:

As Oktoberfest kicks off in Munich this week, NYSE Liffe U.S. kicks off its own Blocktoberfest with the completion of its first block trades priced by reference to the underlying closing index level. Block Trade at Index Close or “BIC” trading totaled 2,755 contracts in mini MSCI Emerging Markets Index futures. The exchange recently issued guidance with respect to block trades priced at a basis to a prospective closing index level, including how such trades are to be reported to the Exchange. BIC trades provide customers the ability to manage the tracking impact of executing large orders relative to the underlying index level by explicitly tying the transaction price to the closing level of the underlying index.

“We are very excited to accept the first BIC trades offering customers another important way to access the liquidity in our market and the highly efficient block trading community on NYSE Liffe U.S.,” said Tom Callahan, CEO, NYSE Liffe U.S.  “Through programs like BIC, we continue to provide tools to help customers trade more effectively while creating stronger, more active markets for products like our family of mini MSCI index-based futures.”

NYSE Liffe U.S. does not impose a surcharge for block trades and offers clear and simple processing for wholesale transactions.  For more information on BIC trades in the mini MSCI futures contracts, please visit:


So keep the blocks coming, pick up a mug and join us in celebrating Blocktoberfest!

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