Intercontinental Exchange (ICE), the global network of exchanges and clearing houses, has successfully completed the transition of Liffe equity derivatives contracts 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 FTSE100 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 ICE trading platform, these contracts can now be traded side by side with ICE’s flagship US MSCI and Russell index contracts, as well as with the Eurodollar and GCF Repo futures contracts and the US soft commodity complex.
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.
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.
Related stories:
Iosco consults on CDS post-trade transparency
MSCI reports record volumes for listed futures/options based on its benchmarks
ICE closes $350m SuperDerivatives acquisition
ICE adds financial data market with SuperDerivatives deal
EC clears ICE’s NYSE Euronext takeoverSuperDerivatives launches multi-bank trade execution platform