Stock Groups

London Stock Exchange calls time on CurveGlobal derivatives arm By Reuters

by Mike Robinson

[ad_1]

© Reuters. FILE PHOTO – The London Stock Exchange Group office can be seen in London’s City of London on December 29, 2017. REUTERS/Toby Melville/File Photo

LONDON (Reuters) – The London Stock Exchange Group (LON:) said it will shut its five-year old derivatives trading arm CurveGlobal after failing to win sufficient market share in interest rate futures from long-established rivals.

CurveGlobal wanted to be a business partner in a highly competitive sector dominated ICE (NYSE) and Deutsche Boerse.

On Monday, the LSE announced on their website that CurveGlobal (launched in 2016) would be shut down at close to trading on January 28th 2022.

David Schwimmer (CEO of LSEG) stated in June 2019 that CurveGlobal is finally moving forward after “bumping along to the bottom” from its launch. Schwimmer said that CurveGlobal is now gaining traction at a derivatives conference.

LSE’s $27 billion purchase of Refinitiv data analytics and group is now fully integrated.

Chicago Mercantile Exchange was one of the largest derivatives exchanges in the world and it closed its London derivatives unit in 2017.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. Instead, they are determined by marketmakers. As such, the prices might not reflect market conditions and could be incorrect. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.



[ad_2]