What Is the London International Financial Futures and Alternatives Exchange (LIFFE)?
The London International Financial Futures and Alternatives Exchange (LIFFE) is the former determine of the largest futures and alternatives exchange in London, England. It is been renamed the ICE Futures Europe after a chain of mergers and acquisitions (M&A) left it underneath the ownership of the Intercontinental Exchange (ICE).
Key Takeaways
- The London International Financial Futures and Alternatives Exchange (LIFFE) is the former determine of the largest futures and alternatives exchange in London, England.
- LIFFE is now known as ICE Futures Europe.
- LIFFE was once established in 1982 and has long past via many ownership and technological changes since then.
- LIFFE nevertheless publishes an important index in oil purchasing and promoting: the Brent Crude index.
Understanding the London International Financial Futures and Alternatives Exchange (LIFFE)
LIFFE was once established in 1982 via Sir Brian Williamson whose motivation in growing the exchange was once to capitalize on possible choices from eased foreign exchange regulations offered via the United Kingdom. The exchange began with futures contracts and alternatives associated with short-term interest rates. However, a chain of M&A transactions over the years has resulted in a emerging product checklist.
- In 1993, LIFFE merged with the London Traded Alternatives Market, resulting in equity alternatives being added to the exchange.
- In 1996, LIFFE merged with the London Commodity Exchange and added agricultural commodity contracts to its product checklist.
- In 2002, LIFFE was once won via Euronext.
- In 2007, Euronext and the NYSE merged to create NYSE Euronext, with LIFFE turning into part of the NYSE Euronext corporations.
- In 2013, the Intercontinental Exchange (ICE) purchased NYSE Euronext. LIFFE become part of the ICE corporations nevertheless operating underneath the umbrella of NYSE Euronext.
- In 2014, Euronext exited the ICE relationship and began purchasing and promoting independently via an initial public offering (IPO). LIFFE remained with ICE NYSE and was once named ICE Futures Europe.
ICE Futures Europe
The ICE Futures Europe exchange is among the futures and alternatives exchanges globally. Its peer subsidiaries underneath the ICE emblem include ICE Futures U.S., ICE Futures Canada, and ICE Futures Singapore. Throughout the U.S., comparable exchanges include the Cboe Alternatives Exchange, Chicago Board of Business (CBOT), Chicago Mercantile Exchange (CME), New York Mercantile Exchange (NYMEX), and the New York Board of Business (NYBOT).Â
The ICE Futures Europe exchange necessarily uses virtual exchange networking for its transactions. However, it does have an open outcry purchasing and promoting pit with some human transaction execution as well. The exchange has an extensive checklist of members who pay a membership price. Products transacting on the ICE Futures Europe exchange include agriculture futures, energy futures, interest rate futures, alternatives, and all kinds of equity derivatives.
The ICE Futures Europe exchange is registered as a recognized investment exchange in England. Its key regulators include the U.Good enough. Financial Habits Authority (FCA) and the Commodity Futures Purchasing and promoting Price (CFTC) for U.S.-linked products.
The ICE Futures Europe exchange industry has a prestigious board of directors. Additionally it is recognized for the keep watch over of the Brent Crude Index, which is an international benchmark administered via ICE Futures Europe. The ICE Brent Index is calculated to represent the standard price of shopping for and promoting for Brent futures, the largest purchasing and promoting block of oil futures.
