Update: Frank Russell completion
As expected, LSE has announced that it has completed the acquisition of Frank Russell. There is still no news on what it will do with the considerable asset management business it acquired with the Frank Russell index business, but an announcement is expected early in 2015. We have revised our 2014 and 2015 forecasts to include the index and asset management businesses of Frank Russell and to take account of the underlying financial performance so far in 2014. We have lowered our adjusted basic EPS by 3% for 2014 and 7% for 2015. Following a strong share price performance over the last two months, the shares are now trading in line with other large exchange companies.London Stock Exchange Group is a global markets infrastructure business based in the United Kingdom. Co's operating segments include: Information Services, which provides a range of information and data products including indexes and benchmarks; Post Trade Services LCH, which provides clearing services through which counterparty risk is mitigated across multiple asset classes; Capital Markets, provides access to capital for domestic and international businesses and electronic platforms for secondary market trading of equities, bonds and derivatives; and Group Technology, which provides secure technologies to customers that require performance at high levels of availability and throughput.
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