A new trading platform - dubbed Project Rainbow - is being developed by a consortium of major derivatives trading houses to compete with Europe’s exchanges, according to a source at a large European bank.The consortium is said to include Barclays, Deutsche Bank, Goldman Sachs, JP Morgan, MF Global, NewEdge and UBS.
Rainbow follows the creation of Project Turquoise, another trading platform set up by a consortium of banks to provide a cheaper alternative to traditional exchanges.
More on Exchanges
Onshore derivative market is the focus for Osaka Securities Exchange
China exchange developing technique to reduce margin requirements
Significant global players not on list to join Shanghai Clearing House
Taiex futures set to be followed by other products
Sign up for Risk.net email alerts
Sponsored webinar: IBM Risk Analytics
Nominated for two technology awards
Nominated for post trade technology award
Sponsored webinar: Collateral and counterparty tracking
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.