LIFFE February Volume Up 16% On January

The London International Financial Futures and Options Exchange (LIFFE) traded an average daily nominal value of £234 billion (374 billion) in February 2000, a rise of 7% on January's figure and up 19% on the average daily nominal value for 1999 as a whole. Total monthly volume was 11,372,160 contracts, a 16% increase month-on-month. LIFFE's flagship Three-Month Euribor futures contract has grown by 75% year-on-year and continues to set new records, with open interest reaching 1,401,576 contracts on 21 February and 414,358 contracts changing hands on 3 February. LIFFE's Chief Executive, Hugh Freedberg said, "More business by value is entrusted to our technology, LIFFE CONNECT ™, than any other electronic exchange in the world. Volatility in the underlying cash markets led to increased trading activity during February. Together with January's figures LIFFE has made an encouraging start to the year." Equity products have risen by 53% year-on-year. The four new technology equity options introduced on 21 February (ARM Holdings plc, CMG plc, Colt Telecom Group plc and Energis plc) have had a positive start to trading. On 20 March LIFFE will launch the second series of technology equity options. These are Logica plc, Misys plc, Sage Group plc and Sema Group plc.