The London International Financial Futures and Options Exchange has made a committment to the City of London by picking a site in Spitalfields for its new offices and trading floor.
The announcement, which came over the Christmas break, is a blow for the Isle of Dogs. The London Docklands Development Corporation hoped to lure the exchange to Canary Wharf.
As an incentive, the City Corporation has agreed to reacquire the 1.4 ha (3.5 acre) site if LIFFE decides not to go ahead with the development at any time before the end of 2001. The site itself is owned by Spitalfields Developments.
At the moment LIFFE operates at Pillar’s Cannon Bridge development, EC4. The exhange, which has expanded dramatically since its launch in 1982, plans to build a 65,030 sq m (700,000 sq ft) development including a 9,290 sq m (100,000 sq ft) trading floor.
EGi News 07/01/97
