According to the LSEG, it is to acquire a 60 per cent stake in a new Multilateral Trading Facility (MTF), which is aimed at expanding the groupâs services across Europe.
The new trading venture will operate under the name of Turquoise and follows a merger between the latter with the LSEGâs âdark poolâ business, Baikal Global Limited.
LSEG is anticipating investing up to Â£20 million in the electronic MTF for restructuring as well as writing off legacy technology costs.
Xavier Rolet, chief executive of LSEG and chairman-designate of the new venture, said: "We are very pleased to be joining forces with a number of our major clients in a partnership which we believe will offer an attractive range of innovative and competitively priced products and services across Europe.
"Turquoiseâs existing pan-European footprint is a strong proposition and together with the introduction of new trading technology and a neutral structure, we believe it is now well positioned to be an agent of change and to capture a healthy slice of the market's growth potential."
LSEG is also looking to broaden the base of shareholders by selling nine per cent of its stock to other interested parties.