London Stock Exchange Group
|Public limited company|
|Headquarters||10 Paternoster Square, City of London, England, United Kingdom|
|Donald Brydon (Chairman)
Xavier Rolet (CEO)
|Revenue||£ 1.04 billion (2014)|
|£ 417.6 million (2014)|
|£ 273.9 billion (2014)|
London Stock Exchange
|Subsidiaries||FTSE Group (100%)|
The London Stock Exchange Group plc is a British-based stock exchange and financial information company. It is headquartered in London, United Kingdom. It owns the Borsa Italiana, MillenniumIT, Russell Investments and the London Stock Exchange.
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. In 1995 the Alternative Investment Market was launched and in 2004 the Exchange moved again, this time to Paternoster Square.
In 2007 the Exchange acquired the Milan-based Borsa Italiana for 1.6bn euro (£1.1bn; $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.
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.
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). The deal, subject to government approval would create the world's largest exchange operator for mining stocks. In the UK the LSE Group first announced it as a takeover, however in Canada the deal was reported as a merger. The provisional name for the combined group would be LTMX Group plc. 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 $3.7 billion CAD, 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. 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".
In July 2012, the LSE bought a 5% stake in Delhi Stock Exchange.
On 2 June 2014, the LSE became the 10th stock exchange to join the United Nation's Sustainable Stock Exchanges (SSE) initiative.
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 per unit.
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.
London Stock Exchange
The London Stock Exchange is Europe's leading stock exchange and is owned by the London Stock Exchange Group plc.
Borsa Italiana is Italy's leading stock exchange and is owned by the London Stock Exchange Group plc.
MillenniumIT was acquired by LSEG in 2009 as their technology service provider. It is offering world's fastest trading platform known as Millennium Exchange for most of leading stock markets in the world.
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.
Tokyo Stock Exchange joint venture
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.
On the 3 April 2012, LSE and LCH.Clearnet shareholders voted overwhelmingly to take up to 60 percent of the clearing operator with an offer of 20 euros per share, which values LCH.Clearnet at 813 million euros ($1.1 billion).
- (PDF) http://www.lseg.com/sites/default/files/content/documents/LSEG%20Preliminary%20Results%20CY2014%20RNS%205Mar2015_1.pdf. Missing or empty
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- "Latest News". millenniumit.com. Retrieved 20 March 2015.
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- "TSX operator, London exchange agree to merge". CBC News. 2011-02-09.
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- Wall Street Journal, "A Combined TMX-LSE Would Be Called LTMX Group", Ben Dummett, 1 June 2011
- Reuters, "Maple Group goes hostile for TMX", Solarina Ho
- "Toronto-London stock exchange merger terminated". thestar.com. 29 June 2011. Retrieved 20 March 2015.
- Shah, Palak (5 July 2012). "British bourse LSE buys 5% stake in Delhi Stock Exchange". Business Standard. Business Standard Ltd. Retrieved 4 September 2012.
- "LONDON STOCK EXCHANGE GROUP JOINS UN SUSTAINABLE STOCK EXCHANGES INITIATIVE". London Stock Exchange. London Stock Exchange. Retrieved 3 June 2014.
- Malone, Charlotte. "London Stock Exchange joins UN sustainability initiative". Blue&Green Tomorrow. Blue&Green Tomorrow. Retrieved 3 June 2014.
- MOSS, GAIL. "London Stock Exchange joins UN sustainable stock exchanges initiative". IPE. Investments and Pensions Europe. Retrieved 3 June 2014.
- Walker, Ian. "London Stock Exchange to Buy U.S. Asset Manager Frank Russell for $2.7 Billion". The Wall Street Journal. Retrieved 26 June 2014.
- "Deals of the day- Mergers and acquisitions". Reuters. Retrieved 2015-02-02.
- "Index of /". londonstockexchange-ir.com. Retrieved 20 March 2015.
- "LONDON STOCK EXCHANGE GROUP TO ACQUIRE MILLENNIUMIT FOR US$30M (£18M)". London Stock Exchange. Retrieved 19 November 2013.
- "LSE backs possible joint bid for LCH.Clearnet". reuters.com. Retrieved 20 March 2015.
- London bourse outlines framework for Tokyo JV
- "BBC News - LSE reveals takeover of Turquoise". bbc.co.uk. Retrieved 20 March 2015.
- "LSE wins shareholder backing for LCH deal". reuters.com. Retrieved 20 March 2015.
- London Stock Exchange plc completes acquisition of outstanding 50 per cent of FTSE International Limited
- Official website
Primary marketSecondary marketThird marketFourth market Types of markets Types of stocks Share capital Participants Exchanges Stock valuation Trading theories
- Algorithmic trading
- Buy and hold
- Concentrated stock
- Contrarian investing
- Day trading
- Dollar cost averaging
- Efficient-market hypothesis
- Fundamental analysis
- Growth stock
- Market timing
- Modern portfolio theory
- Momentum investing
- Mosaic theory
- Pairs trade
- Post-modern portfolio theory
- Random walk hypothesis
- Sector rotation
- Style investing
- Swing trading
- Technical analysis
- Trend following
- Value investing
- Block trade
- Cross listing
- Dark liquidity
- Dual-listed company
- DuPont analysis
- Efficient frontier
- Initial public offering
- Market anomaly
- Market capitalization
- Market depth
- Market manipulation
- Market trend
- Mean reversion
- Open outcry
- Public float
- Public offering
- Returns-based style analysis
- Reverse stock split
- Share repurchase
- Short selling
- Stock dilution
- Stock market index
- Stock split
- Uptick rule
- Voting interest