Tokyo, 28 April 2003 - TIFFE products have today been successfully transferred on to LIFFE CONNECT™ and the Fujitsu-provided clearing system.
The project to build new trading and clearing systems for TIFFE, which started in July 2001, was an international joint project between TIFFE, Euronext.liffe and Fujitsu. The new trading system is provided by Euronext.liffe, and LIFFE's Chairman Sir Brian Williamson is present at an event today to mark the launch. The new clearing system has been developed by Fujitsu, and Fujitsu's Corporate Vice President, Mr. Michio Atarashi, is present at the event as well.
"It is my greatest pleasure to announce the successful launch of TIFFE new systems. LIFFE CONNECT™, the world's most advanced trading system, has already been adopted by other international exchanges like LIFFE, Euronext - the largest European exchange - and NQLX - the joint venture established by Euronext.liffe and NASDAQ in the US. It will also be used by the Chicago Board of Trade in the near future. The new clearing system, developed by Fujitsu which is an expert solution-provider of exchange systems in Japan, offers many advantages for TIFFE and its members. With these advanced systems, TIFFE will pursue more new business opportunities aggressively." said Jiro Saito, Chairman and Chief Executive of TIFFE today.
On behalf of Euronext.liffe, Sir Brian Williamson, LIFFE's Chairman, said, "Today is the culmination of this exciting two year project. I am delighted to be here for the launch of LIFFE CONNECT™ at TIFFE. Ahead of other exchanges, TIFFE has chosen the world's very best electronic trading platform. TIFFE's early appreciation of the business opportunities which LIFFE CONNECT™'s extra functionality, worldwide distribution and speed would bring, has now been endorsed by the choice of LIFFE CONNECT™ by three other major exchanges to support trading in their derivatives products. We look forward to continuing to work together and I wish TIFFE every success".
Note to Editors:
1. The Tokyo International Financial Futures Exchange, (TIFFE), founded in 1989, is widely known as the home market for Euroyen futures and now caters to a wide range of domestic and international investors. Since its foundation, TIFFE has been the leading Japanese exchange in terms of introducing global standard functions to its operations. Some good examples are the introduction of an evening session and the give-up facility. For more information about TIFFE, visit the TIFFE website at www.tiffe.or.jp
2. Euronext.liffe is the derivatives business of Euronext, comprising the Amsterdam, Brussels, LIFFE, Lisbon and Paris derivatives markets. It was formed following the purchase of LIFFE (the London International Financial Futures and Options Exchange) by Euronext in 2002. Euronext.liffe is creating a single market for derivatives, by bringing all its derivatives products together on a single electronic trading platform, LIFFE CONNECT™. Today, Euronext.liffe is the world's largest derivatives exchange, by value of the business transacted through the exchange every day.
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