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London Stock Exchange to acquire Turquoise Derivatives

05 July 2013  |  7158 views  |  0 London stock exchange 3

The London Stock Exchange is to acquire the derivatives business of Turquoise Global Holdings, in which it owns a 51% stake.

The platform, which will be renamed 'London Stock Exchange Derivatives Market', will continue to operate as it currently does, but as part of a Regulated Market of a Recognised Investment Exchange (RIE).

The change in status will help the market to prosper in the face of upcoming post-trade regulations, which would classify trades made at a multilateral trading facility such as Turquoise as over-the-counter and thereby subject to higher collateral costs.

Turquoise will continue to operate a pan-European cash equities multilateral trading facility (MTF).

Completion of the transaction, which is subject to certain conditions, including regulatory non-objections, is expected to take place during Q4 2013.

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