Doubts about the credibility of the Libor benchmark for interest rates has led NYSE Euronext's Liffe derivatives market to sell alternative futures contracts. The alternatives are based on a euro borrowing rate calculated by the European Central Bank and a sterling-denominated overnight interbank average compiled by the Wholesale Markets Brokers' Association in London. Liffe's move comes after complaints that some banks reported inaccurately low data on their borrowing costs since the credit crunch began, skewing the Libor.

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