01 May 2017
Find out more

LSE closes on joint venture deal with Turquoise owners - Bloomberg

15 December 2009  |  6648 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  |  8941 views  |  0 comments
LSE in talks to buy Turquoise

LSE in talks to buy Turquoise

01 October 2009  |  8086 views  |  1 comments
LSE confirms £18m MillenniumIT deal

LSE confirms £18m MillenniumIT deal

16 September 2009  |  9219 views  |  0 comments
Turquoise looks for buyer

Turquoise looks for buyer

18 August 2009  |  7446 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit dh.comvisit vasco.com/news/PSD2-compliant-solutionsVisit capgemini.com

Top topics

Most viewed Most shared
JPMorgan formally quits R3JPMorgan formally quits R3
8652 views comments | 27 tweets | 17 linkedin
Six global banks join Swift DLT trialsSix global banks join Swift DLT trials
8477 views comments | 18 tweets | 36 linkedin
BBVA steps up fintech acquisition strategy with purchase of OpenpayBBVA steps up fintech acquisition strategy...
7815 views comments | 19 tweets | 18 linkedin
Should central banks open up payment and settlement systems to non-banks?Should central banks open up payment and s...
6537 views comments | 22 tweets | 21 linkedin
UBS moves risk platform to Microsoft Azure cloudUBS moves risk platform to Microsoft Azure...
6513 views comments | 11 tweets | 21 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job