Last Dealing Time
The last time (on the last dealing day) you may trade on a particular market.

Last Trading Day
The last business day prior to the option's expiration date during which purchases and sales of options can be made. For equity options, this is generally the third Friday of the expiration month.

LIFFE
London International Financial Futures Exchange

Liquidity (Liquid Market)
A trading environment characterised by high trading volume, a narrow spread between the bid and ask prices, and the ability to trade larger sized orders without significant price changes.

Listed Option
A put or call traded on a national options exchange. In contrast, over-the-counter options usually have non-standard or negotiated terms.

LME
London Metal Exchange

LSE
London Stock Exchange