LIFFE Reduces Premises Overhead With Lease Of London Stock Exchange Floor And 61 Threadneedle Street

The London International Financial Futures and Options Exchange (LIFFE) today announced that the Knight Trimark Group (KTG) will take over LIFFE's vacant trading floor at the London Stock Exchange building and the adjacent 61 Threadneedle Street office building for the remaining term of the leases which expire in 2004.

LIFFE's Managing Director of Finance and Operations, Peter Friend said:"LIFFE is very pleased that this prestigious location will now be occupied by KTG. It is a very important transaction for the Exchange since it reduces LIFFE's premises overhead by a further 68,000 sq.ft. This reflects our determination to rapidly reduce our occupancy costs as the Exchange becomes a wholly electronic market. This is the second major premises transaction within four months, following the disposal of our Spitalfields site last December." This transaction will enable LIFFE eventually to release provisions to the profit and loss account in respect of occupancy costs totalling £8 million.