Rainbow dealt blow as market divided over success chances
Project Rainbows future has come under increased scrutiny
after the exit of one of its most influential and senior
figures and further pessimism over its ability to secure a
David Hardys sudden departure from both MF Global and
Rainbow could strike a blow to the Projects future
direction, some have said, despite insistence from other
quarters to the contrary. More pressing however is the start-up
exchanges continued lack of a clearer.
Rainbow, which is looking to launch a rival short sterling
contract to Liffe, is still without a clearer having failed to
convince LCH Clearnet to offer its services under the advisory
influence of Liffe. It is believed to be in discussion with a
number of other possible clearers but as yet, remain hamstrung.
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