Liffe set to offer iX its trading system
Wednesday 10 May 2000
Brian Williamson, chairman of Liffe, the London derivatives exchange, is set to offer Liffe Connect, its new electronic trading system, to iX, the proposed Anglo-German megabourse.
Mr Williamson believes that the offer of the system, which is able to handle cash-equities trading as well as deal with futures and options, could defuse a potential row over plans to replace the London Stock Exchange's much criticised Sets system with Frankfurt's lower-cost Xetra system.
Smaller brokers are worried about the cost of switching to a new unfamiliar system. Don Cruickshank, the LSE chairman, said last week he was keen to meet Mr Williamson to discuss the implications of the iX deal.
An agreement to use Liffe Connect would be a boost to Mr Williamson's attempts to reinvent Liffe as a provider for exchanges around the world.
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