Liffe has confirmed that it is “renegotiating” its current deal with LCH Clearnet but denied reports that the exchange wants to sever completely its relationship with the clearer.

Liffe’s executive director, Gary Jones dispelled rumours that the exchange was looking to totally sever ties with LCH Clearnet after reports had suggested that the rise of Project Rainbow had forced Liffe to completely divorce itself from the clearinghouse. Jones, who was talking at Futures Industry Association’s annual conference in Boca Raton, Florida, said the exchange simply wants to renegotiate its terms with LCH Clearnet.

“We’ve had the same arrangement with...