Chicago Mercantile Exchange and the London International Financial Futures and Options Exchange will launch the first initiatives under their strategic partnership March 20. In the first phase, the exchanges will offer cross-exchange product access, allowing CME traders using GLOBEX2 workstations in Chicago to trade all LIFFE CONNECT futures products and LIFFE members in London to trade the CMEs electronically traded products through the LIFFE CONNECT network.
LIFFE members will gain access to the CMEs eurodollar contracts and its benchmark S&P 500 stock index and Nasdaq 100 index products. CME members will gain access to LIFFEs Euribor futures and other products including short sterling futures and FTSE 100 index futures. LIFFE and CME members also will be able to cross-margin their positions on the two exchanges.