Chicago Board of Trade will be issuing all intermediaries
with a copy of plans detailing the process for the exchange's
switch of front end and clearing house by the end of June.
Exchange president Bernie Dan told FO Week the
exchange was keen to make its members part of the process of
change and to adjust its procedures on the basis of
Included in the plan will be details of the various
milestones for testing of the Liffe Connect system, which is
due to replace the Eurex's supplied Ace in January. Lines and
hardware are being installed this month and next, with
preliminary testing due to start in July. ISV and member firm
conformance and certification testing will take place over the
summer with user training expected from 18 August. By November,
simulation testing should be complete and the system will be
ready to launch with equity indices and selected interest rate
products, with Treasury, agency and agricultural products to
follow on 2 January.
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