Xavier Rolet, chief executive of the London Stock Exchange, said this morning that the UK group was pioneering a "novel" new model for clearing ownership through its acquisition of a majority stake in Anglo-French clearer LCH.Clearnet – a deal that has gained the support of industry analysts.

The LSE announced this morning that it had agreed a deal with the LCH.Clearnet management team to purchase up to 60% of the company's stock at a value of €19 per share, with shareholders eligible for a €1 special dividend in five years' time. The cash offer values the entire Anglo-French clearing house at €772m with the further €41m special dividend taking the total value of the company to €813m.