London Stock Exchange to acquire Turquoise Derivatives

London Stock Exchange to acquire Turquoise Derivatives

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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