Liffe votes for screen trading

MEMBERS OF Liffe, London's futures and options exchange, gave overwhelming support last night to a plan to develop an electronic trading system, in hopes of fighting off fierce competition in European derivatives trade. Liffe officials said 97.5 per cent of those who voted at an extraordinary general meeting approved the broad-based plan for Liffe's strategic direction.

Besides developing an in-house electronic platform for financial futures by mid-1999, the plan envisages revamping the membership structure and shifting to a profit-oriented strategy.