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
Liffes 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
Associations annual conference in Boca Raton, Florida,
said the exchange simply wants to renegotiate its terms with
Weve had the same arrangement with LCH for a long
time - since 1988 - even from the days of open outcry. From our
perspective, as a global exchange we do not own our clearing
vehicle in the same ways as some others do. We are trying to
improve that situation, Jones said.
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