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LSE's fixed-income trading platform to acquire
March 6, 2014 / 3:50 PM / 4 years ago

LSE's fixed-income trading platform to acquire

Workers speak above an electronic information board at the London Stock Exchange in the City of London January 2, 2013. REUTERS/Paul Hackett

LONDON (Reuters) - MTS, the electronic fixed-income trading platform majority-owned by the London Stock Exchange (LSE)(LSE.L), has agreed to acquire U.S.-based corporate and emerging markets bond trading platform BDCG.PK.

Under the terms of the deal, which is awaiting stockholder and regulatory approval, MTS will acquire all’s outstanding shares for about $15 million, an LSE spokeswoman told Reuters on Thursday.

“This transaction enhances MTS’s position as a global provider of fixed-income trading platforms ... (It) will enable us to meet the ongoing industry and regulatory drive for greater transparency and efficiency in fixed-income markets, through a competitive and cost-effective platform,” MTS Chief Executive Jack Jeffery said.

Reporting by Clare Hutchison; Editing by David Goodman

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