London Stock Exchange, Capel Court, in use from 1802 to 1972Former premises in Threadneedle Street, in use from 1972 to 2004
London Stock Exchange Group plc, also known as LSEG, is a global provider of financial markets data and infrastructure. Headquartered in London, England. It owns the London Stock Exchange (on which it is also listed), Refinitiv, LSEG Technology,[4]FTSE Russell, and majority stakes in LCH and Tradeweb.
The London Stock Exchange was founded in Sweeting's Alley in London in 1801.[5] It moved to Capel Court the following year.[5]
In 1972, the Exchange moved to a new purpose-built building and trading floor in Threadneedle Street. Deregulation, sometimes known as "big bang", came in 1986 and external ownership of member firms was allowed for the first time.[5] In 1995, the Alternative Investment Market was launched and in 2004 the Exchange moved again, this time to Paternoster Square.[5]
Between April and May 2006, having been rebuffed in an informal approach, Nasdaq built up a 23% stake in the Exchange.[6] The stake grew to 29% as a result of the London exchange's share consolidation.[7] Nasdaq has since sold its investment.[8]
In 2007, the Exchange acquired the Milan-based Borsa Italiana for €1.6bn (£1.1bn; US$2bn) to form the London Stock Exchange Group plc. The combination was intended to diversify the LSE's product offering and customer base. The all-share deal diluted the stakes of existing LSE shareholders, with Borsa Italiana shareholders receiving new shares representing 28 per cent of the enlarged register.[9]
On 16 September 2009, the London Stock Exchange Group agreed to acquire Millennium Information Technologies, Ltd., a Sri Lankan-based software company specialising in trading systems, for US$30m (£18m). The acquisition was completed on 19 October 2009.[10]
On 9 February 2011, TMX Group, operator of the Toronto Stock Exchange agreed to join forces with the London Stock Exchange Group in a deal described by TMX head Tom Kloet as a 'merger of equals' (though 8/15 board members of the combined entity will be appointed by LSE, 7/15 by TMX).[11] The deal, subject to government approval would create the world's largest exchange operator for mining stocks.[12] In the UK, the LSE Group first announced it as a takeover, however in Canada the deal was reported as a merger.[13] The provisional name for the combined group would be LTMX Group plc.[14] On 13 June 2011, a rival, and hostile bid from the Maple Group of Canadian interests, was unveiled for the TMX Group. This was a cash and stock bid of CA$3.7 billion, launched in the hope of blocking the LSE Group's takeover of TMX. The group was composed of the leading banks and financial institutions of Canada.[15] The London Stock Exchange however announced it was terminating the merger with TMX on 29 June 2011 citing that "LSEG and TMX Group believe that the merger is highly unlikely to achieve the required two-thirds majority approval at the TMX Group shareholder meeting".[16]
In July 2012, the LSE bought a 5% stake in Delhi Stock Exchange.[17]
On 26 June 2014, the LSE announced it had agreed to buy Frank Russell Co., making it one of the largest providers of index services.[21]
In January 2015, Reuters reported that the London Stock Exchange Group planned to put Russell Investments up for sale, and estimates the sale will produce $1.4 billion.[22]
In March 2016, the company announced it had reached an agreement with Deutsche Börse to merge. The companies would have been brought under a new holding company, UK TopCo, and would retain both headquarters in London and Frankfurt.[23] On 25 February 2017, the London Stock Exchange Group PLC stated it would not sell its fixed-income trading platform in Italy to Deutsche Börse AG, to appease anti-trust concerns. The planned merger between the two exchanges, which was estimated to create the largest exchange in Europe, was subsequently described as "at risk" by the Wall Street Journal.[24] The merger attempt was blocked by EU Competition Regulator on 29 March 2017 stating that "The Commission's investigation concluded the merger would have created a de facto monopoly in the markets for clearing fixed income instruments".[25]
In August 2019, the company agreed to buy Refinitiv in an all-share transaction valuing the target at $27 billion.[26] Shortly thereafter, on 11 September 2019, LSEG itself became the target of a £32 billion bid by the Hong Kong Exchanges and Clearing, subject to abandoning its plans to buy Refinitiv.[27] LSEG rejected the takeover bid two days later.[28] In order to secure the Refinitiv deal, in July 2020, LSEG announced that it was considering selling its Italian assets including MTS, Italian bond trading venue and potentially Borsa Italiana.[29]
On 18 September 2020, LSEG entered into exclusive talks to sell the Italian Bourse to Euronext.[30] The acquisition was announced on 9 October of that same year and was completed on 29 April 2021.[31]
In August 2023, LSEG said it intends to retire the Refinitiv name across the group, starting with market-data terminal Refinitiv Workspace, which will become LSEG Workspace from the end of August 2023.[32]
Leadership
The positions of chairman and Chief Executive of the London Stock Exchange Group were founded in 2007, upon the establishment of the Group. This is not to be confused with the chairmen and Chief Executive's of the London Stock Exchange plc, which is a subsidiary of the Group. The current Chief Executive is former Goldman Sachs banker David Schwimmer, who was appointed in 2018, replacing Xavier Rolet, who was ousted in November 2017.[33] Schwimmer's most recent role at Goldman Sachs was serving as "global head of market structure and global head of metals and mining in investment banking".[33]
Following the merger with Borsa Italiana, the group is Europe's leading equities business, with 48% of the FTSEurofirst 100 by market capitalisation and with the most liquid order book by value and volume traded.[37] Its activities include:
London Stock Exchange: The London Stock Exchange is Europe's leading stock exchange and is owned by the London Stock Exchange Group plc.[38]
LSEG Technology: LSEG Technology was acquired by LSEG in 2009 as their technology service provider. The company was originally known as MillenniumIT and was subsequently rebranded as LSEG Technology.[39] It offers a trading platform known as Millennium Exchange and is available for use at most of the leading stock markets in the world.[40]
Cassa di Compensazione e Garanzia ('CC&G'): CC&G provides central counterparty services. It was purchased along with Borsa Italiana in 2007.[41]
Monte Titoli: Monte Titoli is the Italian Central Securities Depository for Italian issued financial instruments. It performs pre-settlement, settlement and custody services for its member participants. It was created in 1978 and acquired by the Borsa Italiana in 2002 before becoming part of the LSEG.[42]
Turquoise: On 21 December 2009, the LSE agreed to take a 60% stake in rival trading platform Turquoise, which currently has a 7% share of the market. Turquoise will be merged with the LSE's trading facility Baikal Global.[43]
LCH: On 3 April 2012, LSE and LCH shareholders voted overwhelmingly to take up to 60 percent of the clearing operator with an offer of 20 euros per share, which valued LCH at 813 million euros ($1.1 billion).[44]
FTSE Russell: Through its acquisition of the Frank Russell Company in 2015, London Stock Exchange Group combined FTSE Group with Russell Indexes to form FTSE Russell, now one of the largest index providers in the world.[45]
Mergent: On 21 November 2016 LSEG announced plans to acquire Mergent Inc, provider of business and financial information on public and private companies.[46]
The Yield Book and Citi Fixed Income Indices: On 30 May 2017 LSEG announced the acquisition of The Yield Book and Citi Fixed Income Indices, leading providers of fixed income analytics systems, for $685 million.[47][48]
AAX: On 22 January 2019, LSEG announced that its Millennium Exchange matching engine technology had been selected by digital asset exchange AAX, marking the first time its solutions are applied in the digital assets economy.[49][50]
In September 2023, LSEG drew up plans for a new digital markets business to offer trading of traditional financial assets using blockchain technology. The new entity is expected to be launched within a year.[51]
Arms
Coat of arms of London Stock Exchange Group
Notes
Granted 26 May 2023 by the College of Arms.
Crest
None recorded
Helm
None recorded, as per usual
Escutcheon
Azure a Lion passant guardant Or armed proper surmounting the base of a Tower also Proper.
Supporters
On either side a Griffin Sable armed proper murally crowned Or.[52]
Badge
Within a Circlet of Annulets interlaced a Balance Azure.
The London Stock Exchange (LSE) is a stock exchange based in London, England. As of August 2023, the total market value of all companies trading on the LSE stood at $3.18 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cathedral. Since 2007, it has been part of the London Stock Exchange Group. Despite a post-Brexit exodus of stock listings from the London Stock Exchange, the LSE was the most valued stock exchange in Europe as of 2023. According to the 2020 Office for National Statistics report, approximately 12% of UK-resident individuals reported having investments in stocks and shares. According to a 2020 Financial Conduct Authority report, approximately 15% of British adults reported having investments in stocks and shares.
The Toronto Stock Exchange is a stock exchange located in Toronto, Ontario, Canada. It is the 10th largest exchange in the world and the third largest in North America based on market capitalization. Based in the EY Tower in Toronto's Financial District, the TSX is a wholly owned subsidiary of the TMX Group for the trading of senior equities.
TMX Group Limited is a Canadian financial services company that operates equities, fixed income, derivatives, and energy markets exchanges. The company provides services encompassing listings, trading, clearing, settling and depository facilities, information services as well as technology services for the international financial community.
Euronext N.V. is a European bourse that provides trading and post-trade services for a range of financial instruments.
The Financial Times Stock Exchange 100 Index, also called the FTSE 100 Index, FTSE 100, FTSE, or, informally, the "Footsie", is the United Kingdom's best-known stock market index of the 100 most highly capitalised blue chips listed on the London Stock Exchange.
The Montreal Exchange, formerly the Montreal Stock Exchange (MSE), is a derivatives exchange, located in Montreal, Quebec, Canada that trades futures contracts and options on equities, indices, currencies, ETFs, energy and interest rates. Since 1965, it has been located in the Tour de la Bourse, Montreal's third-tallest building. It is owned by the Toronto-based TMX Group.
Deutsche Börse AG, or the Deutsche Börse Group, is a German multinational corporation that offers a marketplace for organizing the trading of shares and other securities. It is also a transaction services provider, giving companies and investors access to global capital markets. It is a joint stock company and was founded in 1992, with headquarters in Frankfurt. On 1 October 2014, Deutsche Börse AG became the 14th announced member of the United Nations Sustainable Stock Exchanges initiative.
FTSE International Limited trading as FTSE Russell ( "Footsie") is a British provider of stock market indices and associated data services, wholly owned by the London Stock Exchange (LSE) and operating from premises in Canary Wharf. It operates the well known UK FTSE 100 Index as well as a number of other indices. FTSE stands for Financial Times Stock Exchange.
Borsa Italiana, based in Milan at Mezzanotte Palace, is the Italian stock exchange. It manages and organises domestic market, regulating procedures for admission and listing of companies and intermediaries and supervising disclosures for listed companies.
Dame Clara Hedwig Frances Furse DBE (née Siemens) was the Chief Executive of the London Stock Exchange between January 2001 and May 2009, and was the first woman to occupy the position. In 2005, she was ranked 19th in Fortune magazine's most powerful women in business list. In 2007, Furse was listed among Time's 100 most influential people in the world.
The FTSE MIB is the benchmark stock market index for the Borsa Italiana, the Italian national stock exchange, which superseded the MIB-30 in September 2004. The index consists of the 40 most-traded stock classes on the exchange. The index was administered by Standard & Poor's from its inception until June 2009, when this responsibility was passed to FTSE Group, which is 100% owned by the Borsa Italiana's parent company London Stock Exchange Group.
Turquoise is an equities trading platform, created by nine major investment banks in 2008. The aim was to provide dealing services at a 50% discount to traditional exchanges. It is a hybrid system that allows trading both on and off traditional exchanges. The system was advertised as a "pan-European platform based in London".
Xavier R. Rolet is a Franco-American businessman, a Harvard University Fellow, a Yale University Center for Business and the Environment Board Member, Managing Partner of Grayling Centennial LLC, Board Member of Old Salt Co-Op, a Montana ranching Co-operative, Chairman and chief executive officer (CEO) of World Quantum Growth Acquisition Corporation, a NYSE-listed company (WQGA.U). He was CEO of CQS until January 2020, and before that, CEO of the London Stock Exchange Group. He was included in the 2017 Harvard Business Review's List of the Best 100 CEOs in the World and is a frequent keynote speaker at business events. Rolet is an advocate for supporting start-ups and the funding of SMEs to promote innovation and job creation.
Millennium Exchange is the electronic trading platform currently used and developed by the London Stock Exchange Group. It has also been sold and is in use by a number of other exchanges around the world.
MillenniumIT ESP is a Sri Lankan information technology company that provides enterprise solutions with a portfolio that includes stock exchange systems, infrastructure platforms, cyber security systems, managed services, automation, and cloud services. Headquartered in Colombo, Sri Lanka, MIT ESP also offers industry-specific solutions tailored for banking and finance, telecommunications, government, manufacturing and retail, and commercial sectors.
Raffaele Jerusalmi is an Italian executive and CEO of Borsa Italiana S.p.A.
David Schwimmer is an American banker, and the chief executive (CEO) of the London Stock Exchange Group since April 2018, when he succeeded Xavier Rolet.
Chris Gibson-Smith is a British businessman who was chairman of the London Stock Exchange Group from 2003 to 2015.
LSEG Data & Analytics, formerly Refinitiv, is an American-British global provider of financial market data and infrastructure.
FTSE Russell is a subsidiary of London Stock Exchange Group (LSEG) that produces, maintains, licenses, and markets stock market indices. The division is notable for the FTSE 100 Index in the UK and the Russell 2000 Index in the US, among others.
This page is based on this Wikipedia article Text is available under the CC BY-SA 4.0 license; additional terms may apply. Images, videos and audio are available under their respective licenses.
£8.379 billion (2023) [3] 
£0.948 billion (2023) [3] 
