e-Financial News reports:
Rainbow’ threat to exchanges and brokers
Luke Jeffs and Natasha de Terán
28 Jan 2008

A group of the world’s largest derivatives dealers and brokers have started talks about launching a European derivatives exchange, dubbed Project Rainbow. The move will increase competitive pressure on Europe’s futures exchanges and clearers.

No surprises that Goldman Sachs are involved. Suposedly joing them are Credit Suisse, Lehman Bros. and their fellow “not yet on LiquidityHub” members J.P. Morgan and UBS.