Telerate Inc, New York has teamed up with Intex Holdings Ltd to sign an agreement in principle with the London International Financial Futures Exchange or LIFFE, which looks like the Irish river but they like to say it life, to develop global electronic transaction services to enable trading orders to be routed via the Telerate […]
Telerate Inc, New York has teamed up with Intex Holdings Ltd to sign an agreement in principle with the London International Financial Futures Exchange or LIFFE, which looks like the Irish river but they like to say it life, to develop global electronic transaction services to enable trading orders to be routed via the Telerate network to the exchange: the first phase, set for completion by the end of the year, calls for Telerate/Intex to supply LIFFE with an automated order entry system, enabling members and their authorised customers to place trade orders through Telerate/Intex during normal trading hours, the orders then being routed to the trading room floor via LIFFE’s Trade Registration System for immediate execution during open outcry hours; trades will be done in the traditional open outcry method and confirmed back via the Registration System to the client through the Telerate network; in the second phase, to be completed in 1990, Telerate-Intex will develop an electronic trading interface to LIFFE’s proposed Automated Pit Trading system, which is planned to offer electronic trading to LIFFE members, emulating the outcry in the pit.
