LSE

The role of exchanges has changed, and they may no longer be ‘national treasures.’ But what exactly, then, is an exchange these days? And have other capital markets actors picked up what used to be the hallmark quality standards that brought a degree of confidence to the market?

A listed exchange is a public company and a national treasure, a dual identity to be embraced. Can the Deutsche Boerse - London Stock Exchange deal succeed in the corporate sense and also in the fulfilment of exchanges’ obligations to the public good? History has demonstrated that building cross-border securities exchanges is not only hard, but it has the propensity to fail.

The proposed takeover of London Stock Exchange Group by Deutsche Borse is posing a number of questions for regulators and governments in deciding whether or not such a deal is healthy for financial markets. The stock exchanges would merge, but so too, would their central counterparty clearinghouses, LCH.Clearnet and Eurex Clearing.

UnaVista is one of several applicants to ESMA to act as a Trade Repository. We spoke to Mark Husler and David Nowell about the application

London Stock Exchange Group’s UnaVista trade repository will fulfil all EMIR reporting requirements for all asset classes

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