Launched in 2000 as Europe's first browser-based electronic stock lending platform, Nyse Euronext acquired a 51% stake in the London-based business in 2007 in partnership with Societe Generale and Fortis.

At the time, the US exchange operator anticipated a boom in stock lending practices across Europe as investment banks and hedge funds flexed their muscles in the secondary markets.

After the markets crashed in 2008, SecFinex tried to reposition as a central clearing counterparty, striking a deal with DTCC-backed EuroCCP to launch a service for the UK market.

However, as the economy has shrunk, the business has struggled to attract custom. Nyse Euronext says the unit will cease trading from Friday, with a view to closing any outstanding business before the year's end.