LONDON--(BUSINESS WIRE)--Intercontinental Exchange (NYSE: ICE), the leading global network of exchanges and clearing houses, announced that it has successfully completed the Liffe futures and options transition to ICE Futures Europe. The final phase of the Liffe transition was completed with the equity derivatives complex transferring to the ICE platform, following the previous migrations of European interest rate derivatives and soft commodity contracts.
The Liffe equity derivative contracts that were migrated to the ICE platform on November 17 include futures and options on the FTSE 100 Index, futures contracts on the MSCI World and MSCI Europe Indices, as well as a comprehensive range of Single Stock Futures, Dividend Adjusted Stock Futures and Individual Equity Options.
With European equity derivatives, interest rate derivatives and soft commodities now listed on the widely distributed and feature rich ICE trading platform, these contracts can now be traded side by side on WebICE with ICE’s flagship U.S. MSCI and Russell index contracts, as well as with the Eurodollar and GCF Repo futures contracts and the U.S. soft commodity complex.
David Peniket, President and COO, ICE Futures Europe said: "ICE would like to thank our customers and the Liffe trading community for their support during the migration of the Liffe softs, interest rates and equity derivatives contracts to the ICE trading platform and to ICE Futures Europe. We are proud of Liffe’s legacy and are conscious of our responsibility as we bring two of the world’s leading derivatives markets together on a globally distributed platform.”
“The Liffe contracts we have transitioned now have the support of ICE’s world-class trading and clearing capabilities. ICE is committed to further developing these markets; we look forward to working closely with our customers to ensure that we continue to meet their evolving trading and clearing requirements.”
The transition of Liffe contracts to the ICE platform provides:
- Retention of a pro-rata, allocation-based matching model for interest rate futures markets;
- Enhanced wash-trade prevention protections, including ICE’s self-trade prevention functionality; and
- Improved pre-trade risk management technology, interval price limit circuit breakers and sophisticated messaging policies to maintain highly efficient, orderly and reliable markets
ICE Futures Europe is now the largest derivatives exchange in London by traded volume.
The clearing transition of the Liffe market to ICE Clear Europe was completed in July 2013. All European commodity derivatives, interest rate derivatives and equity derivatives contracts, previously listed at Liffe, will continue to be cleared at ICE Clear Europe.
About Intercontinental Exchange
Intercontinental Exchange (NYSE: ICE) is the leading network of regulated exchanges and clearing houses for financial and commodity markets. ICE delivers transparent, reliable and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange and ICE Futures.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located at www.intercontinentalexchange.com/terms-of-use
"FTSE®” is a trade mark of the London Stock Exchange plc and the Financial Times Limited and is used by FTSE Group (“FTSE”) under license. The FTSE 100 Index is the proprietary interest of FTSE and has been licensed for use by ICE. All copyrights in the index values and constituent lists vest in FTSE. FTSE in no way sponsors, endorses or is otherwise involved in the issue and offering of ICE’s futures and options contracts based on the FTSE indices and does not accept any liability in connection with the trading of these products.
MSCI® and the MSCI index names are service marks of MSCI Inc. (“MSCI”) or its affiliates and have been licensed for use by ICE. Futures contracts and options contracts on any MSCI index (“Index Contracts”) are not sponsored, guaranteed or endorsed by MSCI, its affiliates or any other party involved in, or related to, making or compiling such MSCI index. Neither MSCI, its affiliates nor any other third party involved in, or related to, making or compiling any MSCI index makes any representations regarding the advisability of investing in such Index Contracts. Neither MSCI, its affiliates nor any other third party involved in, or related to, making or compiling any MSCI index makes any warranty, express or implied, or bears any liability as to the results to be obtained by any person or any entity from the use of any such MSCI index or any data included therein. No purchaser, seller or holder of this Index Contract, or any other person or entity, should use or refer to any MSCI trade name, trademark or service mark to sponsor, endorse, market or promote this Index Contract without first contacting MSCI to determine whether MSCI’s permission is required.
Russell Investments is the owner of the trademarks, service marks and copyrights related to the Russell Indexes. Indexes are unmanaged and cannot be invested in directly.
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SOURCE: Intercontinental Exchange