LSE completes €463m Clearnet deal The €463m deal will see London's leading bourse pay €19 per share in cash for up to 60pc of the clearing house, which stands between two parties to a trade - ensuring a deal goes ahead if one side defaults. London Stock Exchange Group Xavier Rolet, LSE chief executive, said: "The Transaction will be transformative, delivering a strong, customer-focused clearing partnership between LSEG, LCH.Clearnet and our customers, the broker-dealer community. We will seek to promote greater innovation, choice and competition in the listed derivatives market through this new-style open-access clearing model, building on the successes we have already had with our existing equity and fixed income trading partnerships, Turquoise and MTS. The LSE entered exclusive talks to buy LCH.Clearnet in September. The group, which failed to complete a C$4bn merger with Canadian bourse TMX last year, said it will pay for the deal from existing resources and bank facilities. It said it had received undertakings from investors holding 46.9 percent of LCH.Clearnet shares to accept the offer. Industry experts welcomed the move, saying LSE needed to diversify its structure ahead of the introduction of new regulation being pushed through in the wake of the financial crisis. The Dodd-Frank initiative in the US and European Market Infrastructure Regulation (Emir) are likely to force all "over-the-counter" (OTC) derivatives on to exchanges and settled through clearing houses. Chris Searle, corporate finance partner at BDO, said: "At last some good news for the London Stock Exchange after its failed merger with the Toronto Stock Exchange. The LSE stood out from other major stock exchanges in not owning a clearing house for its main market, so this deal now puts it on more of a par with its competitors. It will be interesting to see if the LSE now follows this up with some more M&A activity to strengthen its position at a time when exchanges seem to be merging in order to obtain the benefits of scale.