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SGX, the Singapore exchange, was supposedly interested in joining one of the bids. NYSE Euronext had teamed up with Markit initially but withdrew recently and has been replaced by Nasdaq OMX, which in June expressed interest in a minority stake.
The bids come as London’s key market infrastructures have been thrown into flux as Brussels regulators finalise sweeping reform of derivatives and equities markets. It also comes as exchanges have been swept up in a wave of consolidation. Both developments have turned clearing houses into prized assets, with LCH.Clearnet – the largest clearer left that is not owned by an exchange – as a key target. It has 98 shareholders, mostly market participants such as banks, but also exchanges including NYSE Euronext and the London Metal Exchange.
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