‘Groundhog Day’ Sets Tone for Assault on Europe’s Futures Giants
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Working to set up a futures exchange to compete with established rivals can sometimes resemble the plot of “Groundhog Day,” the movie in which Bill Murray’s character keeps repeating the same day until he gets it right.
With a nod to the film, a group of Wall Street executives convened in 2013 to plan a new European market they’ve dubbed “Project Rita” after the character played by Andie MacDowell who is pursued by Murray in the movie. In conjunction with London Stock Exchange Group Plc, the consortium aims to steal market share from established venues owned by Intercontinental Exchange Inc. and Deutsche Boerse AG.