Loading Posts...

Euronext.liffe is getting back to normal after Thursday outage

LONDON: Multinational European stock exchange Euronext’s derivatives business arm Euronext.liffe, which had suspended trade in commodities and some financial contracts on Thursday due to technical problems, is returning to normal and is expected to carry on with the trading smoothly on Friday.

The exchange had reopened the contracts for short trading periods for up to 20 minutes late on Thursday itself to help customers to completetheir business. The firm said in a statement on its Web site that it had completed the daily settlement price processes and steps would be
in place before the close of business on Friday to prevent similar outages.

Euronext.liffe said the technical problem affected all contracts on its Financials Host — short-term interest rate products (Euribor and Eurodollar), bond products, index products, stock futures and commodity products.

Meanwhile, parent Euronext posted second quarter sales of 238.6 million euros, up 5.6 per cent compared with the corresponding previous year period. The five-country exchange — Paris, Amsterdam, Brussels and Lisbon bourses and London’s Euronext.liffe — saw a 13.5 per cent rise in cash trading turnover to 50 million euros and 19.2 per cent hike in software sales to 44.1 million euros, which helped it to offset only a meagre increase in the derivatives revenues.

Euronext is in competition with Deutsche Boerse to buy the London Stock Exchange. It is yet to specify any price and has made no comments on its plans, although Deutsche Boerse has offered 530 pence a share.

Britain’s competition regulator is averse to such a takeover as it feels it is likely to harm competition unless clearing services were separated. A final verdict is expected next month.

siva.niceinteractive@gmail.com'

SivaPrasad

The author didnt add any Information to his profile yet

Leave a Reply

Loading Posts...
%d bloggers like this: