London derivatives brokers were in Gibraltar on a fact-finding mission recently with a view to establishing a presence on the Rock. The move follows on from the success of Trafalgar Financial Futures, which established operations in Gibraltar last year.
The news of Trafalgar's success spread among London traders and First Continental, a big player in the 'short end' of the Liffe market, also recently set up a trading operation in Gibraltar. A further player has already obtained a licence and other applications are currently begin considered by the local regulator, the Gibraltar Financial Services Commission.
Trafalgar commenced trading on Eurex, the German/Swiss financial futures exchange, in August 1999 after a rigorous vetting process by BaWe, the German regulator. The firm now also trades cash stocks and bonds on Xetra, and earlier this year commenced derivatives trading on Liffe Connect.
