Mumbai, March 28: The London International Financial Futures and Options Exchange (LIFFE), the world's leading electronic derivatives exchange and the Nasdaq Stock Market, the world's leading electronic stock market, have announced a partnership to develop a single stock futures market based on global stocks, for the US and the European customers. These products will be listed on LIFFE CONNECT, LIFFE 's electronic trading platform.The Nasdaq has also announced that it has agreed to acquire a majority ownership in Easdaq, the Belgium-based, pan-European stock exchange.
Nasdaq and LIFFE are setting out to utilise their powerful combination of strengths and skills to lead the development of single stock futures in the US market and to further develop the European market.
LIFFE's chairman Brian Williamson said, "Anticipating the growth in global equity trading, LIFFE pioneered the development of futures on global stocks with the successful launch of its Universal Stock Futures earlier this year."
According to Nasdaq chairman Frank G Zarb, "This partnership moves Nasdaq into a market segment which is new but consistent with our global programme.
We expect these instruments to become important investment vehicles in the US and the Europe."
The Nasdaq European market will expand and deepen the existing product range to offer investors the widest choice of liquid investment opportunities, including linkages to European, Asian and the US stocks, exchange traded funds and warrants.
Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
