Editing Futures exchange (section)

===Recent developments===
The 1970s saw the development of the [[financial future]]s contracts, which allowed trading in the future value of [[interest rate]]s. These (in particular the 90‑day [[Eurodollar]] contract introduced in 1981) had an enormous impact on the development of the [[interest rate swap]] market.

The London International Financial Futures Exchange (LIFFE) was launched in 1982, to take advantage of the removal of currency controls in the UK in 1979. The exchange modelled itself after the Chicago Board of Trade and the Chicago Mercantile Exchange. LIFFE was acquired by Euronext in 2002, which in turn was acquired by NYSE in 2006. The combined NYSE Euronext, including LIFFE, was purchased by ICE in 2014.

Today, the futures markets have far outgrown their agricultural origins. With the addition of the [[New York Mercantile Exchange]] (NYMEX) the trading and [[Hedge (finance)|hedging]] of financial products using futures dwarfs the traditional commodity markets, and plays a major role in the [[global financial system]], trading over $1.5&nbsp;trillion per day in 2005.<ref>Notional volume in interest rate derivatives for 2005 was nearly $1.5 trillion, 85% of which came from 260 institutions trading more than $1 billion each http://www.investopedia.com/articles/optioninvestor/07/derivatives_retail.asp {{Webarchive|url=https://web.archive.org/web/20150211031239/http://www.investopedia.com/articles/optioninvestor/07/derivatives_retail.asp |date=2015-02-11 }}</ref>

The recent history of these exchanges (Aug 2006) finds the [[Chicago Mercantile Exchange]] trading more than 70% of its futures contracts on its "Globex" trading platform and this trend is rising daily. It counts for over $45.5&nbsp;billion of nominal trade (over 1&nbsp;million contracts) every single day in "[[electronic trading]]" as opposed to [[open outcry]] trading of futures, options and derivatives.

In June 2001 [[Intercontinental Exchange]] (ICE) acquired the [[International Petroleum Exchange]] (IPE), now ICE Futures, which operated Europe's leading open-outcry energy futures exchange. Since 2003 ICE has partnered with the Chicago Climate Exchange (CCX) to host its electronic marketplace. In April 2005 the entire ICE portfolio of energy futures became fully electronic.

In 2005, The [[Africa Mercantile Exchange]] (AfMX®) became the first African commodities market to implement an automated system for the dissemination of market data and information online in real-time through a wide network of computer terminals. As at the end of 2007, AfMX® had developed a system of secure data storage providing online services for brokerage firms. The year 2010, saw the exchange unveil a novel system of electronic trading, known as After®. After® extends the potential volume of processing of information and allows the Exchange to increase its overall volume of trading activities.

In 2006 the [[New York Stock Exchange]] teamed up with the Amsterdam-Brussels-Lisbon-Paris Exchanges "Euronext" electronic exchange to form the first transcontinental futures and options exchange. These two developments as well as the sharp growth of internet futures trading platforms developed by a number of trading companies clearly points to a race to total internet trading of futures and options in the coming years.{{Original research inline|date=September 2010}}

In terms of trading volume, the [[National Stock Exchange of India]] in [[Mumbai]] is the largest single-stock futures trading exchange in the world.<ref>{{cite web |url=http://www.tribuneindia.com/2007/20071129/biz.htm#2 |title=NSE world's top bourse in futures trading |work=tribuneindia.com |access-date=2007-11-28 |archive-date=2007-12-01 |archive-url=https://web.archive.org/web/20071201100003/http://www.tribuneindia.com/2007/20071129/biz.htm#2 |url-status=live }}</ref>