London Stock Exchange calls time on CurveGlobal derivatives arm
Reuters
Published Sep 22, 2021 03:47AM ET
LONDON (Reuters) - The London Stock Exchange Group (LON:LSEG) 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 sought to win business in a sector dominated by entrenched rivals Deutsche Boerse (DE:DB1Gn) and ICE (NYSE:ICE).
The LSE said on its website on Monday that CurveGlobal, launched in 2016, will be shuttered from the close of trading on January 28, 2022.
In June 2019, LSEG CEO David Schwimmer said CurveGlobal was finally making headway after "bumping along the bottom" since its launch. "We are getting traction now," Schwimmer told a derivatives conference at the time.
The LSE is also focussing on fully integrating its $27 billion acquisition of data and analytics group Refinitiv.
The Chicago Mercantile Exchange, one of the world's biggest derivatives exchanges, had faced similar competition in Europe and closed its loss-making London derivatives arm in 2017.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.