Making Waves

When some of the most prominent members of the London Investment Banking Association (LIBA) complained about the prices the London Stock Exchange (LSE) charged for reporting, few would have imagined that they would join hands to take on that old institution and its European equivalents head-to-head. But grumbling gave way to discussion, which led to tentative agreements, which in September turned into a letter of intent. Thus, Project Boat was born.

While most agreements among investment banks