Powered by Lexis+®
Jurisdiction(s):
United Kingdom
Key definition
London Stock Exchange definition

What does London Stock Exchange mean? In practice, “London Stock Exchange” refers to the marketplace operated by London Stock Exchange plc where equity and debt securities are admitted to trading and traded. Lawyers use it chiefly to distinguish between the Main Market (a UK regulated market) and AIM (a multilateral trading facility with a lighter, disclosure‑driven regime). London Stock Exchange plc is a Recognised Investment Exchange under Part XVIII of the Financial Services and Markets Act 2000. The expression itself is descriptive; the relevant legal concepts are defined in FSMA, the UK Markets in Financial Instruments framework and the Exchange’s rulebooks. Key legal features and significance: - Main Market...

Read More Right Arrow

UK CMA unconditionally clears LSEG’s acquisition of Quantile after Phase 2: no SLC in multilateral compression of LCH-cleared OTC IRDs; margin optimisation unaffected

Practice notes
imgtext

CASE HUB ARCHIVED-

This archived case hub reflects the position at the date of the decision of 26 October 2022; it is no longer maintained. See further, timeline.

Case facts

Outline of a UK merger investigation into the anticipated acquisition by London Stock Exchange Group PLC of Quantile Group Limited. The deal featured vertical overlaps relating to the provision of post‑trade services.

Latest developments

On 26 October 2022, the CMA published its final report, granting unconditional clearance to the transaction.

Parties

  • London Stock Exchange Group PLC (LSEG): The UK’s stock exchange. It operates markets that enable the raising of capital and the trading of corporate Securities, provides access to a trading venue, and supplies real‑time pricing and reference information globally. Coverage spans Equities, derivatives and fixed‑interest securities.
  • Quantile Group Limited (Quantile): Founded in 2015, it offers financial services. It has built a platform using an optimisation engine to deliver advanced compression and risk rebalancing for banks, hedge funds and other financial institutions involved in OTC derivative transactions. Quantile serves customers in the UK.

Background

On 6 December 2021, LSGE announced that it had agreed to purchase Quantile for £274m. On 3 March 2022, the CMA...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.
Web page updated on 28/05/2026

Popular documents

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Read More Right Arrow

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Read More Right Arrow

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Read More Right Arrow

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...

Read More Right Arrow