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Quadrillion-Dollar London Market Bats Away Brexit Blues

  • LSE dominance in swaps clearing helped bourse extend its lead
  • Shares of U.K. exchange outpace Deutsche Boerse to hit record
A logo for the London Stock Exchange Group Plc's sits at their offices in London.
Photographer: Simon Dawson/Bloomberg
Updated on

London Stock Exchange Group Plc has defied Brexit gloom to retain the U.K.’s lead in the multi-trillion-dollar swaps business, realized a long-sought ambition to link up with China and nabbed some of the most coveted assets in its industry.

The reward is a soaring stock price, which reached a record this week. LSE shares have outpaced almost every rival in the past three years, including the firm’s former suitor and main European rival, Deutsche Boerse AG, which made a play to lure business from London after the 2016 U.K. vote to leave the European Union.