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LSE and TMX Partner in European Derivatives

LSE and TMX Partner in European Derivatives

The LSE will acquire a licenses to use SOLA Trading, a derivatives trading technology developed by Montreal Exchange, a subsidiary of TMX. In addition, TMX is in negotiations with LSE to acquire a minority position in EDX London, the LSE’s equity derivatives business.

“TMX is very proud of the SOLA technology and we are pleased that London Stock Exchange Group has chosen the platform for its derivatives business,” said Thomas Kloet, CEO, TMX, in a release. “We are also very excited about the opportunity to participate in the growth and development of the European derivatives market.”

Clara Furse, Chief Executive of London Stock Exchange Group, said in a release, “The use of SOLA will give the Group a state-of-the-art, proven derivatives trading platform significantly increasing our ability to develop our derivatives markets. Moreover, our partnership with TMX offers exciting scope for developing new products, building on our recent success with our highly liquid Russian derivatives market.”

The release notes that it is anticipated that EDX London, which offers access to trading and clearing services in Nordic and Russian equity and fixed income derivatives, will move onto SOLA Trading technology in November. This will bring low latency and richer functionality providing member firms with new opportunities to develop their trading strategies and broaden their service offering through the provision of Direct Access.

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