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253:, the 10-year German Government Bond. The DTB offered an identical product but, as an electronic exchange, it had a lower cost base. The progress of DTB can be gauged from the fact that in mid-1997 the DTB had less than 25% of the market. By October, it had more than 50%, and a couple of months later LIFFE was left with only 10%. The Bund represented about a third of LIFFE's business. The exchange, which had turned in a profit of £57m in 1997, reported a loss of £64m in 1998. Its ambitious plans for enlarged trading floor and offices on a site near Spitalfields market were dropped (and became the ABN Amro UK HQ).
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to link to the exchange. And, by the beginning of 2002, customers in 25 countries around the world were trading on LIFFE. This completed a revolution in LIFFE's business: whereas traders had once had to come to LIFFE; now, through LIFFE CONNECT, LIFFE took its market to its customers wherever they were in the world.
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as they needed a larger building for their open outcry. With the loss of the market for their main product, Bund futures contracts, all expansion plans were shelved. LIFFE realised that, to compete, it had urgently to develop an
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Durica, Dr. Michael (2006). Product
Development for Electronic Derivative Exchanges: The case of the German ifo business climate index as underlying for exchange traded derivatives to hedge business cycle risk. Pro Business.
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invested £44m in Liffe to finance the commercial development of the trading platform so that it could be sold to other exchanges. Liffe went on to sell the technology to three exchanges, TIFFE (now renamed the
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380:(2008). Early in 2001 LIFFE said that it had returned to profit. In September that year the exchange announced that it had received a number of expressions of interest in buying the business.
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contracts. After the creation of the euro in 1999 the exchange won the lion's share of trading in euro-denominated short-term interest rate derivatives – the
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acquired LIFFE in 2002, and were then in turn taken over by
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Futures exchange located in London, UK (founded 1982)
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481:"London's Royal Exchange | History.co.uk"
507:"Liffe Spitalfields deal cheers City lawyers"
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295:. Unsourced material may be challenged and
622:1982 establishments in the United Kingdom
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315:Learn how and when to remove this message
122:Learn how and when to remove this message
526:"Euronext wins contest to acquire Liffe"
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383:In January 2002, LIFFE was acquired by
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342:after-hours trading
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18:NYSE Euronext Liffe
513:. 14 January 1997.
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