Borsa Istanbul has emerged as the unlikely buyer of a stake in the London Stock Exchange-owned clearing house LCH.Clearnet, furthering the bourse's links with the LSE and its efforts to internationalise.

Turkey's national stock exchange said on Wednesday it had acquired the London Metal Exchange's 2% stake in the international clearing house. The LME, which established its own clearing facility last September and stopped using LCH, said it had now disposed of its entire remaining stake in the clearer.