London Stock Exchange Group PLC intends to keep its Italian trading platforms, which it owns through Borsa Italiana SpA, and has no plans of shutting down or moving the business, a central bank source told Reuters.
LSE CEO David Schwimmer met with officials from the Bank of Italy and market watchdog Consob, and he told them the British bourse would continue investing in the platforms, the source said.
This was in response to a separate Reuters piece saying LSE could close bond trading platform BondVision and move the management functions of Italian securities clearing operations to London from Milan. Insiders had said LSE was thinking of closing MTS and BondVision due to its planned $27 billion acquisition of U.S.-based Refinitiv US Holdings Inc., which has a similar trading platform, Tradeweb TWO.O.
BondVision handles daily volumes of between €5 billion to €6 billion, Reuters noted.
LSE has affirmed its intention to acquire Refinitiv following an unsolicited takeover offer by Hong Kong Exchanges & Clearing Ltd. HKEX has since pulled out its bid.
