Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  London Stock Exchange plc    LSE   GB00B0SWJX34

LONDON STOCK EXCHANGE PLC

(LSE)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

London Stock Exchange Raises GBP20 Million for Derivatives Challenger Curve -Financial News

share with twitter share with LinkedIn share with facebook
share via e-mail
12/12/2019 | 10:39am EST

By Samuel Agini

Of Financial News

London Stock Exchange Group PLC (LSE.LN) and a group of banks have put another 20 million pounds ($26.3 million) into a derivatives-trading venture they hope can challenge the dominant forces in European interest-rate futures.

CurveGlobal has raised the money to provide working capital and fund future growth, the LSE confirmed. It is CurveGlobal's first funding round since February 2018, when it also raised GBP20 million.

The LSE, which owns around 43.4% of CurveGlobal, launched the joint venture with a number of major banks and Chicago-based exchange Cboe Global Markets in September 2016.

According to LSE data, roughly 5.6 million interest-rate derivative contracts changed hands on CurveGlobal in the first 11 months of 2019--an 85% year-on-year increase despite weaker volumes in October and November.

However, Curve is dwarfed by U.S.-headquartered Intercontinental Exchange ICE Futures Europe and Deutsche Boerse AG's (DB1.XE) Eurex.

London-based ICE Futures Europe traded 489.4 million interest-rate derivative contracts in the first 11 months of 2019, while the figure for Eurex was just under 518.0 million, according to their websites.

Andy Ross, chief executive of CurveGlobal, told Financial News: "It would be churlish to say that when you're competing against some of the biggest exchanges in the world that it isn't difficult. I'm delighted by the number of people joining our market, buy-side and sell-side."

Mr. Ross added that the majority of shareholders contributed to the latest fundraising; partner banks on the project are Bank of America, Barclays, BNP Paribas, Citigroup, Goldman Sachs, JPMorgan and Societe Generale.

The LSE lacks a derivatives-trading operation with scale, having lost out to Euronext N.V. in 2001 in a battle to acquire Liffe, a London-based futures and options exchange. Liffe now sits within U.S.-based ICE following a number of subsequent deals in the exchange sector.

Now into its fourth year, CurveGlobal has sought to grow activity on its market by introducing an "all you can eat" fee model. Typically, exchanges charge commission on trades rather than offering unlimited trading for a subscription fee. CurveGlobal offers both options.

The platform also started with the promise of helping banks use their capital more efficiently. Its contracts clear at LCH, the LSE's majority-owned clearing house, which offers them access to a single default fund across over-the-counter and listed trades. Banks have been hit by tougher capital requirements since the financial crisis, increasing the cost of trading.

Website: www.fnlondon.com

Stocks mentioned in the article
ChangeLast1st jan.
BANK OF AMERICA CORPORATION -1.41% 34.36 Delayed Quote.-2.44%
BARCLAYS PLC -0.94% 179.62 Delayed Quote.-0.01%
BNP PARIBAS -0.08% 53.22 Real-time Quote.0.74%
CITIGROUP INC. -2.28% 76.44 Delayed Quote.-4.32%
DEUTSCHE BÖRSE AG 0.55% 155.25 Delayed Quote.10.77%
EURONEXT N.V. -0.06% 81 Real-time Quote.11.49%
GOLDMAN SACHS GROUP INC. -0.91% 230.62 Delayed Quote.0.30%
INTERCONTINENTAL EXCHANGE, INC. -0.48% 94.75 Delayed Quote.2.38%
JPMORGAN CHASE & CO. -1.22% 135.81 Delayed Quote.-1.37%
LONDON STOCK EXCHANGE PLC 0.07% 8422 Delayed Quote.8.67%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on LONDON STOCK EXCHANGE PLC
02/20Brexit makes integrating EU capital markets more urgent, Commision says
RE
02/20THOMSON REUTERS CLOSE TO NAMING EX-N : sources
RE
02/19JPMorgan, UniCredit seen frontrunners to handle payments firm SIA's $4 billio..
RE
02/19Aston Martin puts planned WEC, Le Mans Hypercar entry on hold
RE
02/18U.S. Sanctions Subsidiary of Rosneft Over Alleged Venezuela Oil Exports -- 3r..
DJ
02/18Euroclear to hold talks with regulators over future share structure
RE
02/18DP World returns to full state ownership, takes on $8.1 billion debt
RE
02/17BAVAGUTHU RAGHURAM SHETTY : From pharma salesman to healthcare baron
RE
02/17NMC Health's expansion and ailments
RE
02/17NMC Health founder Shetty resigns as co-chairman in latest blow
RE
More news
Financials (GBP)
Sales 2019 2 308 M
EBIT 2019 1 058 M
Net income 2019 545 M
Debt 2019 1 370 M
Yield 2019 0,81%
P/E ratio 2019 57,4x
P/E ratio 2020 46,3x
EV / Sales2019 13,3x
EV / Sales2020 12,5x
Capitalization 29 407 M
Chart LONDON STOCK EXCHANGE PLC
Duration : Period :
London Stock Exchange plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends LONDON STOCK EXCHANGE PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 8 014,61  GBp
Last Close Price 8 422,00  GBp
Spread / Highest target 24,6%
Spread / Average Target -4,84%
Spread / Lowest Target -29,9%
EPS Revisions
Managers
NameTitle
David Adam Schwimmer Group Chief Executive Officer & Executive Director
Donald Austin Robert Chairman
David Shalders Chief Operating & Integration Officer
David Porter Warren Group Chief Financial Officer & Executive Director
Anthony McCarthy Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
LONDON STOCK EXCHANGE PLC8.67%38 129
INTERCONTINENTAL EXCHANGE, INC.2.38%52 439
HONG KONG EXCHANGES AND CLEARING LIMITED-0.15%43 231
DEUTSCHE BÖRSE AG10.77%30 912
B3 SA BRASIL BOLSA BALCAO0.00%24 305
NASDAQ6.90%18 880