N Sukumar, Bloomberg,
UK – London Stock Exchange Group Plc said it ‘put on hold indefinitely’ plans to offer trading of contracts for difference and stocks on the same electronic platform.
‘During the process challenging market conditions have developed which have significantly impacted our customers’ development capacity, particularly for new product innovation,” LSE spokesman Patrick Humphris said today. “Having listened to client feedback, we do not consider it appropriate to proceed at this point in time, and have taken the decision to halt the project indefinitely.’
LSE had aimed to offer trading of CFDs via the market’s SETS electronic order book, where stocks listed on the exchange already trade, by the middle of 2009.