2-, 5-yr UK gilt futures to launch Nov. 23 - NYSE LIFFE

LONDON, Nov 5 (Reuters) - Two-year and five-year UK gilt futures contracts will be launched on November 23, the derivatives exchange NYSE LIFFE said on Thursday.

The new contracts will add to the long-established 10-year so-called "long-gilt" future and come after rival Frankfurt exchange Eurex launched a 10-year Italian BTP future contract mid-year.

NYSE Liffe's long gilt future has a monthly trading average of over 2 million lots, NYSE LIFFE said in a statement.

"The record levels of debt issuance by the UK government, combined with the unprecedented Quantitative Easing programme being carried out by the Bank of England, has led to...demand for shorter-dated derivatives instruments to manage risk," the exchange said.

Earlier on Thursday the Bank of England extended its asset-buying operation to 200 billion pounds from 175 billion pounds. (Reporting by George Matlock)