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London Stock Exchange says Microsoft deal will ‘transform’ business as equities struggle

Computing giant will help usher in a new era, exchange says, as it turns its attention away from stalled IPO market to data and technology

By

Jeremy Chan

Equities are becoming a smaller and smaller part of LSEG's overall revenues, boss David Schwimmer says
Equities are becoming a smaller and smaller part of LSEG's overall revenues, boss David Schwimmer says Photo: AFP/ Getty Images

The London Stock Exchange has said its recent tie-up with Microsoft will help transform its business in the face of a continue rut in equity markets.

Microsoft took a 4% stake in LSEG and announced a 10-year deal for cloud and data services in December. Speaking to journalists after releasing the exchange's annual results on 2 March, LSEG chief executive David Schwimmer said the deal is helping refocus the business towards data services and away from struggling capital markets.

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