LSEG seeks to challenge trading data overhaul

LONDON, June 10 (Reuters): The London Stock Exchange Group (LSEG) has launched a last-ditch effort to thwart a regulatory move that seeks to boost the transparency of UK stock trading.

Julia Hoggett, CEO of the London Stock Exchange, which is owned by LSEG, said she may appeal to the government if Britain's Financial Conduct Authority (FCA) proceeds with a plan for a stock trade "tape" as proposed last year.

Hoggett's comments, in an LSEG blog mark a fresh escalation in a stand-off with banks and others who have been encroaching on the stock exchange by trading stocks in-house themselves.

The FCA says its plan for a consolidated equities tape, a real-time feed combining equity prices and trades from multiple players, could bolster Britain's appeal in attracting stock market listings by making clear just how vibrant trading is.

The FCA is expected to finalise its plans in July.

In a consultation last year, the regulator proposed including some pre-trade data, such as the best bid and offer from UK venues that publish it.