Pursuits
LSE's Assault on Europe's Futures Giants Leaves the Shadows
- Ex-Morgan Stanley banker Bill Templer is lined up as first CEO
- Basel III is pushing banks to seek efficiencies from clearing
London Stock Exchange
Photographer: Jason Alden/BloombergThis article is for subscribers only.
London Stock Exchange Group Plc for the first time confirmed that it will start a futures exchange to compete with the entrenched derivatives markets owned by its rivals Deutsche Boerse AG and Intercontinental Exchange Inc.
The project, called CurveGlobal Ltd., is a venture with six banks and the Chicago Board Options Exchange, according to a statement Friday. The consortium wants to break the effective duopoly that Deutsche Boerse and ICE enjoy in offering listed derivatives on European government debt. While LSE had kept quiet about Curve, the exchange’s existence had been revealed in several news reports.