LONDON Stock Exchange Group boss David Schwimmer today hit back against the pessimists talking down the City, insisting it will continue to fend off rivals and remain the premier financial centre in Europe.
With the FTSE 100 drifting and few new flotations lately — ARM just chose New York to list in search of a better valuations — banks and brokers have been starved of business. The LSEG is also under pressure over a new Intermittent Trading Venue (ITV) which critics stay stifles innovation and favours the incumbent’s monopoly position.
