Intercontinental Exchange (NYSE:ICE), the leading global network of exchanges and clearing houses, announced that it has successfully completed the transition of the Liffe London soft commodity futures and options contracts to ICE Futures Europe. These products are now listed on the ICE trading platform, which is also home to the ICE Futures U.S. soft commodity futures and options that include Sugar 11, Cocoa, Coffee, Cotton and Frozen Concentrated Orange Juice contracts. For the first time, global soft commodities contracts are available for trading side by side on the same widely distributed, feature rich trading platform.
This was the first phase of the Liffe transition to the ICE Futures Europe platform and follows the transition of the Liffe U.S. products to the ICE platform in June. The following contracts were transitioned on 29 September 2014:
• London Cocoa Futures and Options
• Robusta Coffee Futures and Options
• White Sugar Futures and Options
• UK Feed Wheat Futures and Options
The remaining Liffe contracts including interest rate and equity derivatives are expected to transition to ICE Futures Europe in four tranches on the following dates:
6 October 2014 – Fixed Income Contracts:
• Three Month Euroswiss Futures and Options
• One Month Eonia Futures
• Short and Medium Gilt Futures
• Short, Medium, Long and Ultra Long Bund Futures
• Short, Medium and Long Italian Government Bond (BTP) Futures
• Short, Medium and Long Spanish Government Bond (Bonos) Futures
• Medium and Long Swiss Confederation Bond Futures
• Euro Swapnote® Futures and Options
• Sterling Swapnote® Futures
• U.S. Dollar Swapnote® Futures
• Swiss Franc Swapnote® Futures
20 October 2014 – Fixed Income Contracts:
• Three Month Sterling Futures and Options
• Three Month Sterling Mid-curve Options
• Long Gilt Futures and Options
• Ultra Long Gilt Futures
03 November 2014 – Fixed Income Contracts:
• Three Month Euro (Euribor) Futures and Options
• Three Month Euro (Euribor) Mid-curve Options
• Three Month Eonia Swap Index Futures
17 November 2014 – Equity Derivatives Contracts:
• Index Futures and Options
• Single Stock Futures
• Dividend Adjusted Single Stock Futures
• Individual Equity Options
The ICE trading platform features state-of-the art technology and functionality, including trading applications such as the WebICE trading front end, ICE mobile, ICE Chat and ICE Options Analytics. The transition of Liffe contracts to the ICE platform provides:
• Retention of a pro-rata, allocation-based matching model for interest rate futures markets
• Enhanced wash trade prevention protections, including ICE’s self-trade prevention functionality
• Improved pre-trade risk management technology, interval price limit circuit breakers and sophisticated messaging policies to maintain highly efficient, orderly and reliable markets
The clearing transition of the Liffe market to ICE Clear Europe was completed in July 2013; and all Liffe commodity, interest rate and equity derivatives contracts will continue to be cleared at ICE Clear Europe.
