Liffe and LCE merge

The London International Financial Futures and Options Exchange (Liffe) and the London Commodity Exchange (LCE) began operating as a merged market yesterday with unified administration, exchange systems and clearing arrangements.

Liffe's chairman, Jack Wigglesworth, said: "The merger of Liffe and the LCE today creates the only exchange in the world to offer trading in futures and options on financial, agricultural, soft commodity and equity index products, as well as options on individual equities, and so strengthens London's position as Europe's leading financial centre."