28 February 2017
visit nextgenbanking.co.uk

LSE closes on joint venture deal with Turquoise owners - Bloomberg

15 December 2009  |  6598 views  |  0 stock quotes

The London Stock Exchange is close to agreeing a deal that would give it a 60% stake in a joint venture company combining its Baikal dark pool with investment-bank owned Turquoise MTF, according to Bloomberg.

Citing three unidentified people familiar with the talks, Bloomberg says the LSE would provide a £25 million cash injection to Turquoise in return for its stake.

The London exchange, which is also talking to other banks interested in joining the venture, has the option to reduce its stake to 51%, the people said.

The nine shareholders of Turquoise will own about 40% of the venture, which will retain the Turquoise name, but will operate on technology supplied by the LSE tech subsidiary MillenniumIT.

The newswire says an agreement could be tied-up by the end of the year.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

LSE introduces hidden orders; delays Baikal

LSE introduces hidden orders; delays Baikal

09 November 2009  |  8890 views  |  0 comments
LSE in talks to buy Turquoise

LSE in talks to buy Turquoise

01 October 2009  |  8044 views  |  1 comments
LSE confirms £18m MillenniumIT deal

LSE confirms £18m MillenniumIT deal

16 September 2009  |  9164 views  |  0 comments
Turquoise looks for buyer

Turquoise looks for buyer

18 August 2009  |  7403 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
http://www.financialcrimerisk.fiserv.com/aml?r=finextra

Who is commenting?

A Finextra member Finextra Member Commented on: Really really really K...
A Finextra member Finextra Member Commented on: In wake of Cloudflare...
A Finextra member Finextra Member Commented on: Bank consultancy Zeb o...

Top topics

Most viewed Most shared
EBA to relax controversial PSD2 authentication rulesEBA to relax controversial PSD2 authentica...
14070 views comments | 53 tweets | 74 linkedin
BNY Mellon seeks blockchain experts for new emerging biz and tech teamBNY Mellon seeks blockchain experts for ne...
8074 views comments | 7 tweets | 4 linkedin
hands typing furiouslyBlockchain Technology
7853 views 1 | 18 tweets | 8 linkedin
Starling releases Open API, talks up marketplace modelStarling releases Open API, talks up marke...
7602 views comments | 19 tweets | 18 linkedin
Barclaycard strikes new wearable deals for contactless jewellery and watchesBarclaycard strikes new wearable deals for...
7034 views comments | 17 tweets | 15 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job