London Stock Exchange shut down 5 - yr-old derivative trading arm

LONDON Reuters - The London Stock Exchange Group says it will shut its five-year old derivative trading arm CurveGlobal after failing to win sufficient market share in interest rate futures from long-established rivals.

CurveGlobal sought to win business in a sector dominated by entrenched rivals Deutsche Boerse and ICE.

CurveGlobal said on its website on Monday that it was shuttered from the close of trading on Jan 28, 2022, launched in 2016.

In June 2019, David Schwimmer said that CurveGlobal was finally making headway after bumping along the bottom since its launch. Now that we got traction, Schwimmer told a derivatives conference at the time.

The LSE is also focused on fully integrating its $27 billion acquisition of the data analytics group Refinitiv.

The Chicago Mercantile Exchange, one of the world's largest derivative exchanges, had faced similar competition in Europe and closed its loss-making London derivatives arm in 2017.