Take That You Fraudulent Brits!

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LIBOR? We don't need no stinkin' LIBOR. Screw you guys, we're going home. We are taking our toys to the sandbox in our backyard. Not only that, but we are making a marketing play. The New York Funds Rate (NYFR) is around the corner, and in the spirit of the New York Police Department (NYPD), the Fire Department of New York (FDNY) and various television programs based in New York, NYFR is positioned for acronym success. Variances of the rate (NYFR Blue) will make for excellent follow-on merchandising.
Watch out, UK. Your time is nigh.
ICAP to Launch U.S. Rate Alternative to LIBOR [Reuters]
Also: [Alea]

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