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LCH.Clearnet’s 21-member board, which met on Monday, approved the LSE’s offer of up to €21 a share for 51 per cent of the clearer, which is one of the most prized assets in the clearing business.
Securing LCH.Clearnet would give the LSE its own clearing house in the UK, at a time when London’s flagship market infrastructures – LCH.Clearnet, the LSE and the London Metal Exchange – are in a state of flux.
They face the twin threats of a planned merger of Deutsche Börse and NYSE Euronext and a wave of regulation from Brussels that is set to reshape radically the equities and derivatives trading and clearing business in the wake of the 2008 financial crisis.
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