GSAM to Use NextCapital for Defined Contribution Foray Goldman Sachs Asset Management (GSAM) is acquiring Chicago-based robo-advisor NextCapital Group to hasten the development of Goldman Sachs’ offerings for the defined contribution market via personalized managed accounts and digital advice, officials say. The transaction is slated to close during the second half of this year, depending… Read More >>
BNY Mellon Buys Optimal’s Indexing for ‘Pershing X’
Other BNY Mellon Units to Get Direct Indexing Too The Pershing clearing and custody services business of BNY Mellon is acquiring Optimal Asset Management, a direct indexing solutions provider, and will offer Optimal’s capabilities to advisory clients within Pershing, and to institutional and retail clients within BNY Mellon’s Investment Management business. If the acquisition… Read More >>
LSEG Rejects $39 Billion Takeover Bid from HKEX
A bid from Hong Kong Exchanges and Clearing Ltd. (HKEX) to take over the London Stock Exchange Group plc (LSEG) has been rejected by the LSEG board. On September 11, HKEX went public with its $39 billion takeover bid, arguing that a combination with LSEG would be “a highly compelling strategic opportunity to create a global market… Read More >>
Bloomberg Shouldn’t Fear LSE-Refinitiv Deal: Q&A
(FTF News recently got time with Spencer Mindlin, an Aite Group analyst who focuses on exchange-traded funds (ETFs) and front-office trading technology such as execution and order management systems, market data platforms, and emerging financial technology products. Mindlin answered our questions about the London Stock Exchange Group (LSEG) moving to acquire Refinitiv from a Blackstone… Read More >>
LSE to Transform Itself via Refinitiv Deal
The London Stock Exchange Group (LSEG) is acquiring Refinitiv from a Blackstone consortium for $27 billion in a reverse takeover that will “significantly expand” the LSEG’s data and analytics offerings and yield a global capital markets business to rival players such as Bloomberg. The official confirmation of the acquisition follows reports in the press that… Read More >>
LSEG Invests in AcadiaSoft to Advance OTC Ops
The London Stock Exchange Group (LSEG) has acquired a 15.7 percent minority stake in margining automation pioneer AcadiaSoft, which has also signed a preliminary agreement to integrate LCH SwapAgent with the AcadiaSoft Hub to help standardize margining for non-cleared derivatives. The LSEG stake is intended to help AcadiaSoft expand. “Although investment plans are not final… Read More >>
Linedata Partners with UnaVista for ARM Services
In a MiFID II compliance move, Linedata, an investment management solutions and outsourcing services vendor, is partnering with the UnaVista division of the London Stock Exchange Group (LSEG) to enable their mutual clients to use UnaVista as an Approved Reporting Mechanism (ARM) to facilitate transactions to National Competent Authorities (NCAs). The partnership with UnaVista will… Read More >>
LSEG-Deutsche Börse Breakup Paves the Way for Other Suitors
The marriage of the London Stock Exchange Group (LSEG) and the Deutsche Börse was always on shaky ground despite the participants hoping that this time they would be able to finally walk down the aisle after two failed attempts. However, this was not to be and the European Union competition regulators broke up the union…. Read More >>
Euronext Still Wants to Buy Clearnet from LSEG
Euronext is making it clear that it still wants to buy and own the LCH.Clearnet service outright, the sale of which was part of the failed London Stock Exchange Group-Deutsche Börse merger. At the same time, Euronext is hedging its bets with a preliminary derivatives clearing agreement with ICE Clear Netherlands that would require Euronext… Read More >>
Pending LSE-Deutsche Börse Union Faces Antitrust Pushback
Shareholders may have given their seal of approval but the fate of the Deutsche Börse and London Stock Exchange Group’s £21 billion ($27.7 billion) merger is now in the hands of roughly 40 regulatory bodies around the world. While a handful including the U.S. and Russian authorities have given the union the green light, getting… Read More >>
