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London Stock Exchange in merger talks with Singapore exchange

The discussions follow LSE’s failed plans to tie up with Toronto’s stock exchange last year

London Stock Exchange (LSE) has set its sights on a merger with its Asian rival, Singapore Exchange, in a move that would make it the third largest exchange group in the world.

Chief executive of the LSE Group, Xavier Rolet, has been holding talks in recent weeks with his counterpart in Asia, Magnus Bocker, about the potential benefits of merger, according to The Telegraph.

Last year LSE failed to secure a tie-up with Toronto's stock exchange, TMX, after a consortium of Canadian banks and pension funds received political backing.

Reports suggest that because Singapore has larger market capitalisation - £4.4 billion against LSE's £2.8 billion - it is likely that the Asian exchange will take over its London rival.

However, even if the deal got support from the groups' shareholders, it would still be subject to regulatory approval from the European Union (EU) and Singapore authorities.

If the deal were to go through, the LSE/Singapore tie-up would be the third largest exchange group in the world, in terms trade volumes, behind NYSE Euronext and Nasdaq OMX.

LSE went live last year with its new Millennium IT trading platform, which is developed in C++ programming language and runs on SUSE Linux. It replaced its previous TradElect platform, which was written in C#, based around Microsoft .Net architecture on Windows Server and SQL Server.

However, no detail has been provided on how LSE's Millennium platform would integrate with Singapore's SGX QUEST system.

In other recent news, LSE's CIO, Antoine Shagoury, has also been appointed to the role of group chief operating officer at the company. In his new role, Shagoury will look after all aspects of the group's business operations in addition to his existing technology management responsibilities.


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