London, 21 February 2026, 05:59 GMT — Market closed
London Stock Exchange Group shares closed 1.6% higher at 7,904 pence on Friday. The London Stock Exchange is preparing for the first trade under the UK’s new private shares framework, PISCES. Focus will turn to LSEG’s full-year earnings webcast on February 26th, with investors focused on the latest details on growth, costs and the future of its product lineup.
London Stock Exchange Group rose 1.6% to close on Friday at 7,904 pence, outperforming the FTSE 100 as traders saw signs of further traction in its private markets and data products business. Still, the stock is down about a third from its 52-week high, a reminder of the lingering wariness of data stocks and tech-driven market infrastructure stocks. https://www.marketwatch.com/data-news/london-stock-exchange-group-rises-friday-outperforms-market-375735be-62c8b435ebfd
Timing is important here. With LSEG’s report coming soon, this market doesn’t hesitate to come up with “sticky” subscription names when it sees signs of slowing growth or softening pricing power.
The move comes as British banks push ahead with market reforms to boost activity in London, following a lull in major listings and a steady stream of companies seeking overseas options.
The London Stock Exchange, which operates under LSEG, has announced that its private securities market is preparing for the first trading under the Financial Conduct Authority’s PISCES scheme. This setup allows for auction-based trading of private company stocks and eliminates the need for a traditional IPO. Chief executive Dame Julia Hoggett said the first deals were expected in the “coming weeks”. https://www.reuters.com/world/uk/london-stock-exchange-launches-first-transaction-under-new-private-share-2026-02-20/
In its first transaction, TPE established a Tradable Private Equity Investment Company structure to hold the shares of Oxford Science Enterprises. Reuters values Oxford Science Enterprises at around £1.3 billion.
LSEG is also promoting Model-as-a-Service (MaaS), a kind of walled garden where banks and investment firms can run analytical models. This is part of a larger effort to integrate it into our customers’ daily processes. “We are excited to hire Société Générale,” said Aysegul Erdem, Head of Modeling Solutions at LSEG. Microsoft’s Bill Borden said MaaS is a “significant step forward” for analytics and AI in the financial sector. https://www.lseg.com/en/media-centre/press-releases/2026/lseg-launches-model-as-a-service-and-welcomes-societe-generale
Broader market momentum provided a boost as well. London’s FTSE 100 ended the week at the top after the US Supreme Court rejected President Donald Trump’s tariffs. Traders raised expectations that the Bank of England would cut interest rates in March, Reuters reported. “FTSE has been a rare safe-haven asset this year,” said Chris Beauchamp, an analyst at IG Group. https://www.reuters.com/world/uk/londons-ftse-indexes-track-weekly-gains-geopolitics-focus-2026-02-20/
Markets will take a breather until Monday, but focus has already shifted to LSEG’s upcoming full-year results. The group will webcast its 2025 qualifier this Thursday, February 26, at 10am UK time, with CEO David Schwimmer and chief financial officer Michel-Alain Proche leading the conference call, the company said. https://www.lseg.com/en/investor-relations
Especially now that the market mood is subdued, investors will want to know whether newer products, such as private equity trading through PISCES and MaaS capabilities, can actually deliver steady returns rather than just flashy headlines.
Still, investors may not see the fruits of the new efforts right away, and it’s unclear whether private market platforms will become widespread. Stocks could come under pressure again if risk appetite wanes or old concerns about data pricing and competition resurface.
Nasdaq and other competitors operate private market venues. Exchange groups across Europe have spent years collecting data and post-trade data as a way to reduce their reliance on trading volumes.
