The United Kingdom’s Financial Behavior Authority (FCA) is investigating whether the London Stock Exchange and the owner of the London Data Center building have prevented the competition for low delay (LLC) connection between certain transactions.
At present, only LSEG can use the roof of the Data Center building for radio equipment used for LLCS. In order to address the concerns of FCA competition, LSEG and the owner suggested that they provide equal access to the terrace to others.
LLCS providers create and operate high -speed links between commercial spaces, which allow commercial businesses to process transactions very quickly. Offering very fast connections is the key to competition and maximizing the speed of their connections, providers must be able to place radio units near the trading areas.
FCA surveys under the law of competition are related to the LLC supply between the LSE trading area in London and two other trading sites in the United Kingdom: Cboe Europe and Ice. Currently, LSEG has exclusive rights to identify radio units on the terrace of the Data Center building.
FCA is worried about the fact that these rights and policy of LSEG’s top floor in the LSE trading area prevent LLCs opponents from installing equipment on the terrace, favoring LSEG LLCs and competition.
In order to address FCA concerns, LSEG and the owner have suggested:
- To terminate LSEG’s exclusive rights on the terrace. In the future, LSEG will only use part of this space for its equipment.
- To provide a equivalent space on the roof available to third parties, on a fair and logical basis.
FCA temporarily considers that the proposals of commitment relate to its concerns about competition. The regulatory counseling for them before making a final decision on whether to accept and close the investigations accordingly.
The consultation is held from 11am. On September 5, 2025 to 5 pm on September 29, 2025. Any person who wishes to comment on the proposed commitments should email: CA98.2023.02@fca.org.uk.