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Liffe continues migration towards e-trading

By Tony Hallett

Published: 6 September 1999 15:12 BST

London derivatives exchange, Liffe, today started to allow one of its most important contracts to be traded on its electronic platform, Liffe Connect.

The migration of the Three Month Short Sterling futures contract to Connect is important because Liffe remains a world leader in such short-term contracts, and volume is likely to be high.

Already, sceptical floor traders have said the computerised system won't be able to cope. Since its introduction - in the face of competition from Swiss-German Eurex and other exchanges - Liffe Connect has been used for longer-term contracts.

Although the newly introduced contract will be offered electronically and through pit-based open-outcry trading, it is possible that moving Short Sterling futures and Euribor (from 20 September) contracts to Connect could mean the death-knell for the pits.

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