The London International Financial Futures and Options Exchange (LIFFE), EuropeÆs biggest derivatives market, is proposing to invest up to ú25m in a new electronic trading system to be up and running before the end of next year, it said. Electronic trading will be cheaper than the current open outcry system of floor trading, and the move is seen as a reaction to the success of electronic trading at LIFFEÆs main European rival, Germany’s Deutsche Terminborse. The proposals will be voted upon by exchange members on May 12th but there is expected to be hostility from members who represent floor traders, many of whom could loose their jobs, despite proposals to run electronic trading and open outcry in tandem.
