TRADING TALK
Rosenblatt’s Market Structure News Digest
"A woman calls my house once a week, she's always selling things, some charity, a phone plan, a subscription to a magazine"
— Jenny Lewis, 2004 (“A Man / Me / Then Jim,” from the Rilo Kiley album “More Adventurous”).
LSE Wins Battle For LCH.Clearnet
—Financial Times
The London Stock Exchange has succeeded in its attempt to take over LCH.Clearnet after the clearer’s board favoured the UK bourse over Markit, the rival bidder.
Our Take: Despite the huge gap between LSE’s reported €21/share bid and the €12/share put forth by Markit, this deal is anything but done, with approval still pending from LCH.Clearnet’s 98 shareholders. Among the biggest of these, with a 17% stake, is...