The London Stock Exchange Group has set up a dedicated cost-saving unit designed to reduce the capital it is required to hold by regulators, one of several measures helping the UK bourse to knock an additional €40 million off the cost base of its clearing house from 2017.

In an analyst presentation covering its post-trade businesses on Wednesday, the LSE said it had formed a new unit called a Shared Services Company, which is set to be formally launched by the end of June.