ICE completes first phase of Liffe transition

Source: IntercontinentalExchange

Intercontinental Exchange (ICE), the leading global network of exchanges and clearing houses, announced that it has successfully completed the transition of the Liffe London soft commodity futures and options contracts to ICE Futures Europe.

These products are now listed on the ICE trading platform, which is also home to the ICE Futures U.S. soft commodity futures and options that include Sugar 11, Cocoa, Coffee, Cotton and Frozen Concentrated Orange Juice contracts. For the first time, global soft commodities contracts are available for trading side by side on the same widely distributed, feature rich trading platform.

This was the first phase of the Liffe transition to the ICE Futures Europe platform and follows the transition of the Liffe U.S. products to the ICE platform in June. The following contracts were transitioned on 29 September 2014:

London Cocoa Futures and Options
Robusta Coffee Futures and Options
White Sugar Futures and Options
UK Feed Wheat Futures and Options

The remaining Liffe contracts including interest rate and equity derivatives are expected to transition to ICE Futures Europe in four tranches on the following dates:

6 October 2014 - Fixed Income Contracts:

Three Month Euroswiss Futures and Options
One Month Eonia Futures
Short and Medium Gilt Futures
Short, Medium, Long and Ultra Long Bund Futures
Short, Medium and Long Italian Government Bond (BTP) Futures
Short, Medium and Long Spanish Government Bond (Bonos) Futures
Medium and Long Swiss Confederation Bond Futures
Euro Swapnote® Futures and Options
Sterling Swapnote® Futures
U.S. Dollar Swapnote® Futures
Swiss Franc Swapnote® Futures

20 October 2014 - Fixed Income Contracts:

Three Month Sterling Futures and Options
Three Month Sterling Mid-curve Options
Long Gilt Futures and Options
Ultra Long Gilt Futures

03 November 2014 - Fixed Income Contracts:

Three Month Euro (Euribor) Futures and Options
Three Month Euro (Euribor) Mid-curve Options
Three Month Eonia Swap Index Futures

17 November 2014 - Equity Derivatives Contracts:

Index Futures and Options
Single Stock Futures
Dividend Adjusted Single Stock Futures
Individual Equity Options

The ICE trading platform features state-of-the art technology and functionality, including trading applications such as the WebICE trading front end, ICE mobile, ICE Chat and ICE Options Analytics. 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
Improved pre-trade risk management technology, interval price limit circuit breakers and sophisticated messaging policies to maintain highly efficient, orderly and reliable markets

The clearing transition of the Liffe market to ICE Clear Europe was completed in July 2013; and all Liffe commodity, interest rate and equity derivatives contracts will continue to be cleared at ICE Clear Europe.

Comments: (0)