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LSE and TMX form derivatives partnership

LSE and TMX form derivatives partnership

The London Stock Exchange PLC and Canada's TMX Group Inc. said Tuesday they will form a partnership on derivatives trading.
The LSE said it will license TMX's Sola trading technology for its equity derivatives exchange, EDX London.
TMX, which was formed when TSX Group Inc. bought Montreal Exchange Inc. last May, is in "advanced negotiations" to buy a minority position in EDX London.
"The use of SOLA will give the Group a state-of-the art, proven derivatives trading platform, significantly increasing our ability to develop our derivatives markets," said LSE Chief Executive Clara Furse. "Moreover, our partnership with TMX offers exciting scope for developing new products, building on our recent success with our highly liquid Russian derivatives market."
The two groups said that EDX London, which offers access to trading and clearing services in Nordic and Russian equity and fixed income derivatives, will move onto the new trading technology in November 2009.
The LSE is lagging behind rivals NYSE Euronext and Deutsche Boerse AG in the derivatives business.
Frankfurt-based Deutsche Boerse is part-owner of Eurex, Europe's largest futures market, while NYSE operates London-based Liffe, the region's second-largest futures exchange.


Updated : 2021-03-06 13:29 GMT+08:00