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London Stock Exchange offers alternative to dark pools to meet new rules 

October 16, 2015

Alistair Smout, reuters.com

London Stock Exchange Group has changed the way it processes large-scale deals to help clients comply with new European financial regulations, its head of UK equity said on Wednesday.

The changes are designed to aid the execution oflarge scale deals in light of newly finalised MiFID II rules, which were set out by the European Union last month.

One impacts of the new regulations, set to take effect in 2017, will be to cap anonymous share trading in so-called "dark-pools".

LSE Group's UK equity market head Brian Schwieger has been seeking ways to adapt to the new rules.

"For everyone, it's an immense gamechanger. It's requiring a significant amount of investment from everyone," Schwieger told Reuters.

MiFID II is the biggest overhaul of EU securities rules in a decade, designed to apply lessons from the 2007-09 financial crisis and reflect advances in computerised trading technology.

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