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LSE in talks to acquire LCH clearing house


London Stock Exchange and LCH.Clearnet in early stage discussions

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The London Stock Exchange (LSE) is in talks with LCH.Clearnet about a possible takeover with the business still a target for several other parties.

Discussions are “at an early stage” but are being undertaken with a view to a possible transaction, the exchange confirmed on Friday.

The data vendor Markit and the Nasdaq OMX exchange have been strongly linked with the clearing house in recent months, while the LSE is looking to move on from its failed bid to buy the Canadian exchange operator TMX Group.

LCH.Clearnet, which is majority owned by its clients, said three months ago that it had received approaches about a possible purchase.

The LSE said in late May it was not in talks with LCH.Clearnet over a deal, while Nasdaq OMX and over-the-counter derivatives specialist Markit, working in partnership with NYSE Euronext , were linked to a deal.

A takeover would make sense for the LSE because it differs from most of its top exchange rivals in not owning its main clearing house and would reposition the exchange at a time when clearing is a key focus for European regulators.

The LSE already owns Italian clearing house CC&G, a business it inherited through its 2007 acquisition of Borsa Italiana, but LSE chief executive Xavier Rolet is keen to diversify the business and grow the group's clearing revenue.

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LSE in talks to acquire LCH clearing house
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