Again it was hugely successful. The potential for growth in business throughput was not lost on other financial exchanges in the U.S.A. and elsewhere. By the end of the 1980's all the major markets in government bonds, equities and currencies had established futures contracts running alongside. The quantity and quality in these contracts rarely change, once defined by the Exchange, but the delivery dates will come and go. The next available delivery month requires delivery on Friday, 19th September 1997.
Money is a very simple commodity but bonds are rather more complicated.
In practice, there is no guarantee that any gilt-edged security in issuance actually matches these requirements, so the exchange publishes a list of deliverable gilts. These cover most of the stocks with 10 to 15 years to maturity at the delivery date and price adjustments are published to cope with the differing maturity dates and different coupons so that the buyer of the contract receives the same value whatever actual gilt is delivered. Technically this type of contract is known as a contract for differences. Note also that some people talk in terms of the tick value. A tick is the minimum price movement allowed by the exchange.