LSE says Lehman JV to be profitable in first year

LONDON (Reuters) - The London Stock Exchange (LSE.L: Quote, Profile, Research) said on Wednesday its dark pool trading joint venture with Lehman Brothers LEH.N would be profitable in the first year of operation.

The joint venture called Baikal will start business in the first quarter of 2009.

LSE Chief Executive Clara Furse told reporters the LSE had received good response from the buy side during a U.S. roadshow to introduce the new platform.

(Reporting by Daisy Ku; writing by Olesya Dmitracova)