The Rainbow project is planning to buy London derivatives exchange, EDX, in a last ditch attempt to secure the clearing services of LCH Clearnet.
Rainbow, backed by a consortium of financial houses including MF Global, Newedge, Deutsche Bank and Goldman Sachs, is hoping to list products that will rival Liffe’s existing suite of financial contracts. But the project has stood at a standstill since it is yet to secure the services of LCH Clearnet as clearer....