Share page with AddThis


London Stock Exchange invests in data fintech

london stock exchangeThe London Stock Exchange Group (LSEG) has invested in UK fintech Finbourne as part of a strategy to provide digital data services to fund managers.

Under the terms of the deal, LSEG will adopt Finbourne’s cloud-based, investment data management platform Lusid within its digital and cloud program.

The exchange will also make an investment in Finbourne, in order to jointly develop services within its data and analytics division.

The development efforts will focus on two specific areas within LSEG – wealth management and investment solutions. The wealth service will look to integrate client data from multiple sources, similar to the ‘open banking’ principle adopted in the retail banking sector.

The investment solutions will look to develop investment book of record, or IBOR-related services.

According to Emily Prince, LSEG’s group director of fixed income analytics, the partnership with Finbourne is designed to help clients access the “breadth of data, analytics and integrated workflow solutions” offered by the exchange.

Exchanges have increasingly looked to monetise the data they hold over the past decade and more as the cost of trading has reduced significantly while competition has increased thanks to the introduction of regulations like MiFID.

LSEG's data strategy received a huge boost in January 2021 when its $23 billion takeover of data and analytics provider Refinitiv was completed.

© 2021 fundsTech

Most read features

Roundtable: New age thinking

Our panel of experts discusses the state of innovation in the industry and whether technology and the pandemic have created a once-in-a-generation opportunity to change. Chaired by Nicholas Pratt.

Inside view: Who owns the data?

SteelEye chief executive Matt Smith finds that firms’ increasing use of third parties to store and manage data is creating tricky issues over data ownership.

Cryptocurrencies: Solving crypto’s sustainability problem

Cryptocurrencies like bitcoin have a huge carbon footprint but, as Nicholas Pratt discovers, environmentally friendly alternatives exist.

Proxy voting: Making every vote count

With stewardship more important than ever and digital technology to the fore, surely it is time to solve the problem of proxy voting? Nicholas Pratt investigates.

Operational resilience: Protecting the ecosystem

UK regulators have issued their long-awaited rules on operational resilience. Nicholas Pratt examines the implications for asset managers and their partners.

Sponsored Profiles

Sponsored profile: A question of trust

AcrobatsAs more firms adopt agile software development practices, Petra Roche of Metrosoft explains why trust is so important in making agility work.

Sponsored feature: Compliance and the case for agility

CheetahFundsTech talks to Janusz Lorenc, CEO of Metrosoft, about asset managers’ approach to compliance risk and the case for agile software development.

Sponsored feature: Outsourced dealing

On_targetFundTech talks to Amundi Services’ Romain Sauvage and Gianluca Minieri about an increased demand for outsourced dealing among fund managers, driven by...

Sponsored feature: Global TA – a platform story

Richard_ClarksonOracle’s global head of solutions, Richard Clarkson, charts the evolution of the transfer agency model from its simple beginning to its...