London International Financial Futures and Options Exchange plans to...

London International Financial Futures and Options Exchange plans to trade a euroyen futures contract reference to LIBOR, a complement to its existing euroyen contract linked to TIBOR. The decision stemmed from LIFFE research showing a significant proportion of yen-denominated money market business in London is referenced to LIBOR, said LIFFE Chairman Brian Williamson, in a statement. Moreover, there has been an uptick in volatility in the LIBOR/TIBOR spread, making it more difficult to hedge TIBOR-referenced euroyen securities, according to LIFFE.