New exchanges poised for stern test
While the industry is confident that new proposed exchanges, in
the shape of Electronic Liquidity Exchange (ELX) and Project
Rainbow, will become a reality, some have questioned their
ability to succeed.
While speaking at a panel during FOWs 18th London
Derivatives Week on April 9, participants spoke about the
prevalence of this new breed of start-up exchanges.
While banks have been putting pressure on exchanges to
try and scare them into lowering fees, I dont think these
projects are strong enough, said Francesca Cicero of head
of e-trading, Europe at GFI. Cynically, I dont
think there is a lot of long term value in them.
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