Primary Market Maker scheme ("PMM")
The "PMM" scheme ensures that FTSE100 options are supported by market makers providing continuous quotes in a range of series. The PMM scheme is aimed at providing transparency and liquidity such that investors are able to observe bids and offers in a significant number of series and are able to deal in small size regularly and at a reasonable bid/offer spread.

The purpose of the new market making schemes is to improve on-screen price quality in order to build order flow in the central market.

Primary Market Maker scheme ("PMM")
The "PMM" scheme ensures that all UK individual equity options are supported by market makers providing continuous quotes in a range of series and responding to Requests for Quotes. The PMM scheme is aimed at providing transparency and liquidity such that investors are able to observe bids and offers in a significant number of series and is able to deal in small size regularly and at a reasonable bid/offer spread.

Primary Liquidity Provider scheme ("PLP")
The "PLP" scheme complements the PMM scheme by providing spreads in in the most active UK classes and is intended to provide the UK options market with increased quotes to further entrench liquidity.

Designated Market Maker scheme ("DMM")
The Designated Market Maker ("DDM") Scheme is operating in the European-style FTSE 100 Index Option Contract. The aim of the scheme is to strengthen liquidity and facilitate customer order flow. Those members that have been awarded DMM status have agreed to honour the following market obligations:

For 90% of each trading session (that is, contract opening through to close), each DMM, upon demand, will be required to quote two way competitive prices and order sizes over the telephone or through answering Requests for Quotes ("RFQs") on LIFFE CONNECT®.

Primary Market Maker scheme ("PMM")
The "PMM" scheme ensures that FTSE100 options are supported by market makers providing continuous quotes in a range of series. The PMM scheme is aimed at providing transparency and liquidity such that investors are able to observe bids and offers in a significant number of series and is able to deal in small size regularly and at a reasonable bid/offer spread.

Primary Liquidity Provider scheme ("PLP")
The "PLP" scheme complements the PMM scheme by providing spreads in the most traded strikes and is intended to provide the FTSE100 options market with increased quotes to further entrench liquidity.

Designated Market Maker scheme ("DMM")
The "DMM" scheme, initially introduced on 1 November 2001, ensures that all Universal Stock Futures are supported by one or more market makers providing continuous quotes in all front months and the first Calendar Spread. The DMM scheme is aimed at providing transparency such that the retail (private) investor is able to observe bids and offers and be able to deal in small size regularly and at a reasonable bid/offer spread.

Details for renewed scheme will be announced shortly. [ Wholesale trading ]