(Alliance News) - London Stock Exchange Group PLC on Monday said it has agreed to acquire portfolio, margin and capital optimisation services provider Quantile Group Ltd.
LSEG will pay up to GBP274 million for London-based Quantile. The deal will enable the stock exchange to expand its range of post-trade risk management solutions to its customers, it said.
Daniel Maguire, LSEG's group head of Post Trade said: "The acquisition of Quantile builds on the strong growth delivered by LSEG and our Post Trade division. It significantly enhances LSEG's multi-asset class customer offering across the transaction lifecycle by providing more sophisticated tools and infrastructure for customers to optimise their financial resources and drive greater operational efficiencies in OTC derivatives."
Quantile will remain a standalone entity within the Post Trade division, with LSEG and Quantile's services available on an open-access basis to offer customers the choice of where to clear.
The deal is LSEG's first significant acquisition since completing its USD27 billion takeover of financial data firm Refinitiv at the beginning of the year.
Shares were in the LSEG up 1.4% at 6,616.00 pence each on Monday morning in London.
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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