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...

European Commission clears LSEG/Refinitiv subject to Borsa Italiana divestment and 10-year open access for OTC IRD clearing plus data and index licensing commitments (M.9564)

Published by a LexisNexis Competition expert

Practice notes

CASE HUB ARCHIVED —this archived case hub reflects the position at the date of the decision of 13 January 2020; it is no longer maintained. See further, timeline and commentary.

Case facts

Outline

European Commission merger inquiry into london stock exchange Group plc’s planned combination with the Refinitiv Business (M.9564) transaction. The planned deal gives rise to horizontal and vertical overlaps across markets for trading and clearing of multiple financial instruments, and within financial data product offerings (M.9564) in question.

Latest developments

On 13 January 2020, the Commission also approved the transaction subject to commitments. To resolve the Commission’s concerns, it accepted commitments proposed by London Stock Exchange Group. These commitments range from divesting the Borsa Italiana group to an appropriate purchaser (LSEG has already concluded a sale and purchase agreement with Euronext) to behavioural and access undertakings lasting for a ten-year period.

Parties

London Stock Exchange Group plc (LSGE): LSEG is an international financial markets infrastructure company. Its diversified global operations focus on capital formation, post-trade and risk management, and information services. LSEG is a public limited company incorporated under the laws of England and Wales...

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Web page updated on 21/05/2026

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