LSE to pitch straight into rivals' territory

The London Stock Exchange will today outline a plan to launch its first "dark pool" trading system, a move that will pitch Europe’s largest stock exchange further into competition with emerging rivals such as Turquoise.

Financial News has learned that the LSE plans to develop a new anonymous equity trading system, or dark pool, in partnership with US investment bank Lehman Brothers, which it will later spin off into a separate legal entity and launch in the first quarter of next year.

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