NYSE Euronext launches NYSE Liffe – LIFFE is the London based futures exchange, whose pit trading was killed off by the Eurex electronic trading system in a week when it was launched about 10 years ago (I worked with a group of consultants that had worked on Eurex). Following that collapse, LIFFE was reborn as an electronic trading system called LIFFE/Connect.
This is a direct challenge to both the Chicago Mercantile/CBOT exchanges in Chicago and the NYMEX in New York. This is what happens when polititicans try to threaten financial markets with salary caps and punitive regulation. It goes somewhere else, and then you have no control over any of it..
