Introduction

In September 1982 a new market opened in London-The London International Financial Futures Exchange LIFFE. The market occupies the Royal Exchange building in the City of London adjacent to the Bank of England. The Exchange provides facilities for dealing in futures contracts including short term interest rates, government bonds, stock indices and foreign currencies. The Exchange also offers traded options on financial instruments and currencies. The ability to deal in these financial futures and options contracts is an integral part of the range of services which the City offers.