TIFFE and LIFFE will work in partnership to further develop their flagship Euroyen and Euribor short-term interest rate products. In addition they will create new markets in response to customer demand, including the development of products such as yen-denominated swap futures and weather derivatives. Both exchanges are working towards providing mutual access as well as margin offset facilities to their customers in respect of TIFFE's Euroyen and LIFFE's Euribor products.
TIFFE's Chairman and Chief Executive, Jiro Saito said: "TIFFE selected LIFFE CONNECT ™ on the grounds of the openness and flexibility of the system to attract more participants to its Euroyen market. The leading edge functionality of LIFFE CONNECT ™ for short-term interest rate products and its extensive global network, we strongly believe, will offer better service and efficiencies for our members and investors worldwide."
LIFFE's Chairman, Brian Williamson said: "TIFFE's selection further confirms our role as a provider of technology-enabled market solutions. LIFFE has always had strong links with Tokyo, one of the three major financial centres in the world. The strengthening of our partnership with TIFFE opens up new opportunities for both exchanges, bringing more products and choices to investors in Asia and elsewhere."
