Liffe sees its future in electronic trading
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, London's futures and options exchange, yesterday voted 97.5 per cent in favour of a new system of electronic trading in a bid to hit back at its arch-rival in Germany, writes Andrew Verity.
Daniel Hodson, the chief executive of Liffe, described the vote as "an outstanding result".
The new trading system will run alongside the system of open-outcry trading on the floor of the exchange.
Members also approved plans to allow outside investors to buy shares in Liffe, which until now has been wholly owned by the members which operate in the market.
The market will also shift to a profit-oriented strategy.
Executives at the exchange proposed the restructuring last month after it became obvious that Liffe was losing a large chunk of its market share to Deutsche Terminborse, the Frankfurt-based exchange which already uses electronic trading.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments