Liffe leans towards Globex
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.LIFFE, THE London International Financial Futures and Options Exchange, is leaning towards joining Globex, the 24-hour futures and options trading system launched by the giant Chicago exchanges and Reuters this summer.
At a futures conference in Burgenstock, Michael Jenkins, Liffe's chief executive, said: 'There are terms under which we would join. We are having discussions.' Liffe would benefit by having its key contracts traded on Globex screens in other time zones when London markets were closed.
The International Petroleum Exchange, London's energy market, is also in talks with Globex, said Bill Brodsky, president of Chicago Mercantile Exchange. Paris Matif, Sydney Futures Exchange and some New York exchanges intend to join.
But if Liffe, the world's third largest exchange, signed up it would be a major coup for Globex. The more futures and options exchanges that join and list successful contracts on Globex screens, the more attractive the system will be to potential users who need constant market access.
Liffe's interest in Globex may be driven by competition. The Deutsche Termin Borse, which trades a rival German government bond future to one on Liffe, said that it was thinking about joining Globex. If it listed its Bund contract on Globex, it could cut into Liffe's market lead. Mr Jenkins said: 'If DTB would join, that would be a factor.'
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments