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Article: In Fending Off Suitors, LSE Says Its Technology Gets No Respect.(London Stock Exchange officially reacted last week to the Nasdaq Stock Market's purchase of 15 percent of its shares)
- Article from:
- Securities Industry News
- Article date:
- April 17, 2006
- Author:
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When the London Stock Exchange (LSE) officially reacted last week to the Nasdaq Stock Market's purchase of 15 percent of its shares, it repeated a defense it had offered in the face of previous takeover approaches: that no proposed bid had adequately valued the LSE's electronic trading system, Sets.
The centerpiece of the LSE's technology infrastructure, Sets was introduced nine years ago and is the electronic order book for the 250 most liquid FTSE stocks. The platform has recently been upgraded as part of a four-year, GBP37 million ($65 million) project called the Technology Road Map (TRM). In rebuffing last month's full takeover bid by Nasdaq and the prior ...