London International Financial Futures Exchange (LIFFE) officially opened in September, 1982, which is the earliest and most active financial futures exchange in Europe. Although the establishment of the exchange is ten years later than the earliest financial trading market in the United States, it is still of great significance to maintain London's position as a traditional financial center. Currency futures traded on this exchange include sterling, Swiss franc, German mark and Japanese yen futures settled in US dollars, and US dollar futures settled in German marks. Interest rate futures include various British government bond futures, American long-term government bond futures, Japanese long-term government bond futures, three-month European dollar time deposit futures and three-month pound interest rate futures. Stock index futures include Financial Times 100 stock index futures. In addition, the settlement of this exchange is different from the international money market, and it is conducted by an independent settlement company-International Commodity Settlement Company (ICCH). As an independent professional settlement company, the International Commodity Clearing Company has no administrative affiliation with the London International Financial Futures Exchange and is only responsible for the daily settlement of the exchange.
1982 On September 30th, stimulated by the prosperity of American financial futures market, Britain also established a financial futures market in London, namely the London International Financial Futures Exchange. The London International Financial Futures Exchange is located in the Royal Exchange Building in London's financial district, adjacent to the Bank of England. The main business types are local financial futures, such as long-term government bonds and sterling interest rate futures.