Nearly 200 firms sign up to LIFFE CONNECT™ As Financial Options transfer To Screen

The total number of firms connected to the London International Financial Futures and Options Exchange's (LIFFE's) electronic trading platform, LIFFE CONNECT™, has grown to 197 in 16 countries worldwide on the eve of the transfer of financial options to LIFFE CONNECT™ from open outcry trading at Cannon Bridge. This represents a 50% increase since September when international distribution began.

Hugh Freedberg, LIFFE's Chief Executive said: "From May 2 all LIFFE's financial futures and options business will be traded electronically. And by the end of 2000 we will be a fully electronic exchange with LIFFE's commodity products transferring to LIFFE CONNECT™ in the fourth quarter.

LIFFE CONNECT™ is the only system in the world to successfully trade complex short-term money market contracts. The timetable for the introduction of LIFFE CONNECT™ was brought forward by twelve months and already more business by value is entrusted to our technology than to that of any other electronic exchange, and we are delighted at the continuing level of interest and demand for the system."

Customers can now access LIFFE CONNECT™ through LIFFE's own dedicated UK and international network through order-routing using members' internal systems, via the internet or through partnerships with major global network providers such as Reuters and Bloomberg.