London Stock Exchange Group Plc · LSE:LSEG
London Stock Exchange — LSEG Innovation Forum (November 2025)
55 slides from London Stock Exchange's conference presentation, November 2025
Slide 1: Break-out Presentations
Break-out Presentations
Slide 2: World-Check One
World-Check One Innovation Forum David White, Head of Product & Data, Risk Intelligence Mike Moreno, Director, Product Management, World-Check One
Slide 3: What is World-Check One?
What is World-Check One? A cloud-native tool that screens people and companies Think of it as your trusted against global risk sources, including: risk-intelligence assistant, that: Sanctions Official watchlists Politically Exposed Persons (PEPs) Highlights Protects potential risks reputation Advers
Slide 4: Businesses need a dependable, automated, preventative solution
Businesses need a dependable, automated, preventative solution Why this matters Cost of Compliance Annual spend Financial crime is growing in volume and complexity (financial institutions) $146bn Hours spent on compliance Regulatory expectations are rising (2016-2023) 61% increase Proportion of IT b
Slide 5: The challenge
The challenge The current situation The pain points Slow, manual, and error-prone High false positives Wasted time and cost processes e.g. spreadsheets, manual web searches, and basic tools Slow onboarding Poor customer experience Siloed, fragmented customer and risk data Inconsistent risk decisions
Slide 6: Transforming compliance with industry leading risk intelligence
Transforming compliance with industry leading risk intelligence World-Check One transforms risk and compliance from a manual burden into a streamlined, data-driven process – helping organisations make faster, safer, and smarter decisions Proven expertise (25+ years) Decades of expertise, trusted by
Slide 7: Demo: World-Check One in action
Demo: World-Check One in action LSEG | 7
Slide 8: This is what you have just seen…
This is what you have just seen… A customer using World-Check One quickly verified their client information against up-to-date, trusted risk data gathered from thousands of sources, utilising advanced AI-powered matching to confidently detect potential risks within seconds instead of days. Automated
Slide 9: What's coming next?
What’s coming next? Smarter, faster risk intelligence data and solutions Powered by AI LSEG | 9
Slide 10: Thank you
Thank you
Slide 11: Trade Surveillance
Trade Surveillance Innovation Forum Liam Smith, COO LSE plc and Digital & Securities Markets
Slide 12: LSEG Trade Surveillance
LSEG Trade Surveillance A best-in-class solution designed to detect market abuse across A completely plug and play asset classes and venues using product, requiring no existing client and LSEG datasets. technical or data It is essentially a European integration. consolidated audit trail. LSEG | 12
Slide 13: Inefficient solutions generate false positives
Inefficient solutions generate false positives Play outline
Slide 14: Trade Surveillance opportunity: a $2bn market poised for exponential growth
Trade Surveillance Combined spend on surveillance software and services1 opportunity: a $2bn market poised for exponential growth Growth drivers Stricter global regulations $15bn Conservative scenario Increased trading complexity $5bn by 2033 at 14.3% CAGR Adoption of AI / ML $5bn Bullish $2bn scena
Slide 15: LSEG Trade Surveillance
LSEG Trade Surveillance Transaction Reports Decades of experience, trusted data, and regulatory insight – bringing core LSEG Transaction assets together to deliver a best-in-class Reports surveillance tool directly to clients Public Market Tick History Reference Data Public Market Reference Vast, tr
Slide 16: Front Running
Front Running A market abuse typology An individual exploits early in which an individual information by buying or selling the same gains knowledge of an instrument, or a related derivative, before the upcoming order on a legitimate transaction takes place financial instrument The trader profits fro
Slide 17: LSEG Trade Surveillance Functions
ie LSEG Trade Surveillance Functions f ; 3
Slide 18: Future-looking: Surveillance Agent – full workflow replacement
Future-looking: Surveillance Agent – full workflow replacement Streamlining market abuse detection with AI What is it? Key features Surveillance Agent Roadmap AI-powered market abuse investigation assistant, leveraging 1 Automated news sensitivity analysis and triage News Triaging 2 AI to identify p
Slide 19: LSEG Trade Surveillance conclusions
LSEG Trade Surveillance conclusions Zero installation Reducing risk with regulatory- Best-in-class cross-asset and integration costs grade alerts and trusted data and FX surveillance Plug-and-play solution Uses similar methodologies as UK and Asset-class-specific, not EU regulators one-size-fits-all
Slide 20: Thank you
Thank you
Slide 21: Private Securities Market
Private Securities Market Innovation Forum Charlie Walker, Deputy CEO LSE plc
Slide 22: Private markets raise more capital than public, however secondaries has room to grow
Private markets raise more capital than public, however secondaries has room to grow Secondaries Public Markets 33.3% 66.7% Total Deal Value Last 5 Years ($bn) Private Markets 9x 10,836 7.2% 92.8% Private-market secondaries could reach 1,203 $678bn a year more than all public equity raised in 2024.
Slide 23: Secondaries sales of private shares are happening, but the process is challenging
Secondaries sales of private shares are happening, but the process is challenging Current limitations Existing secondary of secondary trading platforms Manual and resource-intensive Lack company involvement Opaque price formation Lack regulatory oversight Duplicate KYC / AML checks Attract limited i
Slide 24: Introduction video
Introduction video LSEG | 24
Slide 25: Introducing a regulated auction model for private markets
Companies upload information T-5 Days to the disclosure portal Introducing a regulated 1 Day Auction Companies can tailor each auction model for auction to their needs: private markets • Price Control Interval • Volume Control A regulated, repeatable 1 month – 1 year process that enables private • I
Slide 26: Benefits of the Private Securities Market over private placements
Private Securities Benefit Feature Private Placement Market Stamp duty exempt Benefits of the Private Tax Securities Market over Tax advantage for sellers private placements Electronic Pricing price discovery A more efficient, automated, and tax-advantaged process Repeatable that retains the familia
Slide 27: Built on LSEG's trusted global member network
Built on LSEG’s trusted global member network Bulge brackets Mid-market firms Employee access/ liquidity providers High net worth individual access Increasing connectivity across private and public LSEG | 27
Slide 28: Utilising LSE infrastructure and new technology
Utilising LSE infrastructure and new technology Disclosure Portal LSE Order Book Settlement via CREST New Customised Customised LSEG | 28
Slide 29: Economics
Economics Companies Buyers & Sellers Buyers will pay Admission fee of £25,000 a year 0.75% on value of shares bought Giving access to 2 auctions. Sellers will pay 1% on value of shares sold Introductory rates are in place during 2026, as the market is established LSEG | 29
Slide 30: Momentum is building
Momentum is building 30 Jun 2025 26 Aug 2025 02 Oct 2025 Late 2025/early 2026 LSEG hosts company PSM rulebook Crowdcube joins as First auctions roundtable with 30 and pricing structure a Registered Auction expected registered companies published Agent (RAA) (combined market cap £158bn) 26 Aug 2025 S
Slide 31: Private Securities Market
LONDON STOCK ‘ EXCHANGE agesseses® sgeseesees: sesees: seseses stgeeseses: + 33338: 3 33 sssss 33: SECURITIES MARKET
Slide 32: Thank you
Thank you
Slide 33: Smart Clearing
Smart Clearing Innovation Forum Andrew Williams, CEO, Post Trade Solutions Andrew Batchelor, Head of ForexClear
Slide 34: What is Smart Clearing?
What is Smart Clearing? Smart Clearing, powered by Post Trade Solutions, is the intelligent, selective clearing of FX Swaps and Forwards through ForexClear. It enables participants to optimise financial resources, particularly regulatory based capital. By identifying and clearing only the trades tha
Slide 35: Customers are facing rising costs and diluted returns
Customers are facing rising costs and diluted returns Cost of trading Regulation-driven Selective clearing has increased incentive to clear is the answer New capital regulations have made FX There is no mandate for FX clearing – purely Smart Clearing intelligently clears FX trades bilateral trading
Slide 36: Smart Clearing opportunity
An opportunity to unlock efficiency in the $9.6tr a day FX market ForexClear clears only 1% of the FX market, driven by FX Options 31% and NDFs, which are subject to the Uncleared Margin Rules (UMR). FX Spot This currently generates over £50 million in annual revenue. 11% Smart Clearing opportunity
Slide 37: Only LSEG offers a complete solution
Only LSEG offers a complete solution Cleared FX Uncleared FX Smart Clearing Portfolio Portfolio Selective clearing of non-UMR Clearing of trades subject trades at ForexClear to provide Bilateral clearing of residual to uncleared margin (UMR) maximum capital and margin benefits risk and everything el
Slide 38: Delivering efficiency and scale across clearing
Delivering efficiency and scale across clearing LSEG connects ForexClear, Smart Clearing, and SwapAgent to provide end-to-end coverage across FX portfolios Our proposition LSEG’s advantages Clearing at ForexClear for trades Leading position in and positions not subject to UMR OTC FX clearing Routing
Slide 39: Smart Clearing in action
Smart Clearing in action Bank X has three positions against bilateral counterparties A, B and C in EUR/USD Bank A Bank B Bank C Gross Bilateral 120 -70 50 240 250 200 For capital calculations 150 under SA-CCR, 100 240 the gross risk of $240 120 (by counterparty 50 50 and ccy pair) is used 0 as an in
Slide 40: Smart Clearing in action
Smart Clearing in action The bank recalculates its capital position as net $100 - against a single counterparty… Bank A Bank B Bank C Gross Bilateral For capital calculations Net Position 120 -70 50 240 under SA-CCR, 100 the gross risk of $240 250 (by counterparty 250 - 58% 200 and ccy pair) is used
Slide 41: Smart Clearing in action
Smart Clearing in action Now the counterparty risk weight is adjusted from 20% to 2% (for a CCP) Bank A Bank B Bank C Gross Bilateral Net Position Risk Weight Capital 120 -70 50 240 100 Bilateral 240 x 20% = 48 Cleared 100 x 2% = 2 250 250 50 200 - 58% 200 40 150 150 100 240 30 100 50 120 48 - 96% 5
Slide 42: Delivering lower costs and greater efficiency for customers
Delivering lower costs and greater efficiency for customers Lower By reducing cost ofregulatory trading capital requirements Drives to Access efficiency multilateral netting and optimisation Reduced Risk materially risk reduced, within initial margin constraints Simpler operations Streamlines the tr
Slide 43: Driving growth and scale for LSEG
Driving growth and scale for LSEG Expanding revenue potential Untapped opportunity across FX markets. Clearing just 1% already generates £50m p.a. Proven market growth Already clearing 25% of NDFs and 10% of interbank FX options. Volumes up 33% year on year. Customer demand and partnership Uniquely
Slide 44: Why should customers choose LSEG?
FX Execution FX All FX Matching Why should customers choose LSEG? Post Trade Solutions We build central infrastructure at scale. Smart Clearing, Optimisation, Compression, Only LSEG can transform the full FX trading Workflows & Central Authoritative Data lifecycle for our customers – we offer key se
Slide 45: Thank you
Thank you
Slide 46: Disclaimer
Disclaimer This document has been provided to you for informational purposes only and is intended as an overview of certain aspects of, or proposed changes to, AcadiaSoft, Inc., Quantile Group Limited, Quantile B.V., Quantile Technologies Limited, LSEG Post Trade Services Limited, and/or SwapAgent L
Slide 47: FTSE Index Module
FTSE Index Module Innovation Forum Marina Mets, Head of Americas, Fixed Income and Convertibles Michelle Bittner, Global Custom Solutions Lead, Fixed Income
Slide 48: FTSE Index Module
CORPORATE FTSE Index Module Empowering clients to customise indices in real time The FTSE Index Module is a powerful, easy-to-use tool that allows users to quickly research and analyse index ideas, back-test potential new indices and perform custom benchmark design. Real-time Move from concept to cu
Slide 49: Modernising Fixed Income
CORPORATE Legacy Data and Speed processes modelling constraints to market limit and slow down Complex unstructured data Long R&D / product lead time customer Heavy analytics requirements workflows Higher pressure due Legacy workflows to increased demand for differentiated, innovative products Modern
Slide 50: Key benefits
CORPORATE Key benefits Before With FTSE Index Module <FIXM> Required multiple skilled Empower clients to customise indices in-house teams to: in real-time: Source, cleanse Quantitively and structure large, model back-tests complex datasets Underpinned by Aligned with production-grade trusted FTSE da
Slide 51: Client case study
Client case study US Asset Owner designing a benchmark for a new mandate to balance their US exposure with international allocation to sovereign rates, balancing investability and diversification. Parameters Goals Outcome Global government bonds Country diversification World Government Bond Index –
Slide 52: What our clients are saying…
What our clients are saying… “Superior to competing solutions.” “Charts are client ready and let me pitch solutions to clients in real-time.” “Single sign-on makes it easy to manage my fixed income investment workflows across Workspace.” “The ability to utilise FTSE indexing expertise, via a fully-a
Slide 53: What's next for the FTSE Index Module?
Expansion across the FICC index suite: WMR FX, digital assets, convertibles Expansion across the FICC index suite: WMR FX, digital assets, convertibles Additional data sets, keywords, analytics and client features What’s next for the FTSE Index Module? Additional data sets, Embedding the keywords, a
Slide 54: Thank you
Thank you
Slide 55: Disclaimer
Disclaimer © [2025] London Stock Exchange Group plc and its applicable group undertakings (“LSEG”). LSEG includes (1) FTSE International Limited (“FTSE”), (2) Frank Russell Company (“Russell”), (3) FTSE Global Debt Capital Markets Inc. and FTSE Global Debt Capital Markets Limited (together, “FTSE Ca
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