London Stock Exchange calls time on CurveGlobal derivatives arm By Reuters
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.
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