London Stock Exchange calls time on CurveGlobal derivatives arm

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By Reuters

<div> <p><span class="caps">LONDON</span> – The London Stock Exchange Group said it will shut its five-year old derivatives trading arm CurveGlobal after failing to win sufficient market share in interest rate futures from long-established rivals.</p> <p>CurveGlobal sought to win business in a sector dominated by entrenched rivals Deutsche Boerse and <span class="caps">ICE</span>.</p> <p>The <span class="caps">LSE</span> said on its website on Monday that CurveGlobal, launched in 2016, will be shuttered from the close of trading on January 28, 2022.</p> <p>In June 2019, <span class="caps">LSEG</span> <span class="caps">CEO</span> David Schwimmer said CurveGlobal was finally making headway after “bumping along the bottom” since its launch. “We are getting traction now,” Schwimmer told a derivatives conference at the time.</p> <p>The <span class="caps">LSE</span> is also focussing on fully integrating its $27 billion acquisition of data and analytics group Refinitiv.</p> <p>The Chicago Mercantile Exchange, one of the world’s biggest derivatives exchanges, had faced similar competition in Europe and closed its loss-making London derivatives arm in 2017.</p> <p/> </div>