Liffe builds defence against Project Rainbow

One of Europe’s largest derivatives exchanges has cited its technology and years of experience to defend itself against the impending threat of a new rival, dubbed Project Rainbow, whose launch was first reported by Financial News last month.

Jean-François Théodore, deputy chief executive of NYSE Euronext , which owns London-based derivatives exchange Liffe, spoke out yesterday in a conference call against the new derivatives exchange in Europe, and also against its sister exchange in the US.

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