LIFFE Appoints Equant As Global Network Partner

The London International Financial Futures and Options Exchange (LIFFE) has signed a three-year USD8.5 million contract with Equant to provide the Exchange with an Internet Protocol (IP) based global network infrastructure. This is in response to member demand for global access to its new world-leading electronic trading platform, LIFFE CONNECT™ and will enable LIFFE members to connect directly to it from, potentially, any financial centre in the world. Network hubs will be installed in locations throughout the world in response to the commercial demands of LIFFE members. The first of these will be in Frankfurt and Paris. LIFFE is holding urgent discussions with the Commodity Futures Trading Commission (CFTC) to arrange for the early installation of hubs in New York and Chicago. Hugh Freedberg, LIFFE's Chief Executive said, "We are delighted to be working with Equant, as our network partner. Equant will provide us with a highly flexible, cost-effective international network for the worldwide distribution of LIFFE CONNECT™. This will support independent software vendor (ISV) front-end trading applications and will reinforce our strategy of providing our customers with the widest choice of front-end software solutions anywhere." As the most advanced derivatives trading system in the world, LIFFE CONNECT™ requires an equally sophisticated network infrastructure. Equant, as LIFFE's network partner, will be able to provide a global IP-based network that meets these exacting standards and hence the quality of service LIFFE customers will demand. Douglas Gilstrap, chief operating officer for Equant's network services division said, "Equant has proven expertise providing seamless solutions in IP technology. In fact, our IP network is the most extensive in the world. Our skills and infrastructure will help LIFFE quickly develop distribution for its new trading system."