Euronext.liffe

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    Euronext liffeEuronext.liffe is the new name for the former London International Financial Futures Exchange (LIFFE, pronounced “life”). The exchange trades solely derivatives, in particular optionsfutures and commodities, from the Euronext stock exchanges in Amsterdam, Brussels, Lisbon, London and Paris.

    The exchange is the biggest in Europe and the second largest globally in terms of the value of trades.

    LIFFE did not implement electronic trading, through its LIFFE Connect platform, until 10 years after the so-called Big Bang that saw almost all international exchanges switch to electronic platforms. It lost much trade as a result, making the eventual takeover by Euronext in 2002 almost inevitable. In September 2012 Euronext.liffe began migrating all its trading products to the new Universal Trading Platform (UTP), with the process due for completion in November 2012.

    Trading hours are generally 0900 to 1730 CET, Monday to Friday, although some indices open and close at different times.

    Trading on Euronext.liffe

    Euronext.liffe offers trading in a wide range of derivative financial instruments, including futures, options, bonds, swaps, exchange-traded fundsover-the-counter (OTC) and commodities. It also provides clearing and settlement services for traders.

    Traders can enter contracts of various maturity, from a day, a week, to up to three months or even longer.

    Indices

    Futures and options contracts for equities are offered for the following major European indices: the AEX, BEL 20, PSI20, FTSE 100 and CAC 40. Minor indices include the FTSEurofirst, FTSE 250 and the FTSE EPRA/NAREIT. Since Spring 2012, futures and options for the Dutch mid-cap AMX index can also be traded.

    Financial data

    In 2011, 150 million index futures and options were traded on Euronext.liffe. Daily trade across all products amounts to around $2,900 billion and represent approximately 35% of Euronext’s revenue and more than 40% of its operating income. The exchange is currently growing by around 13% a year.

    Further information

    Euronext’s web pages for Euronext.liffe.