August 2, 2018 / 6:24 AM / 4 months ago

London Stock Exchange Group plans for a no-deal Brexit

Aug 2 (Reuters) - London Stock Exchange Group said on Thursday it was activating contingency plans in case Britain crashes out of the European Union next March without a transition deal.

The LSE said the plans include the incorporation of new entities in the European Union, and applications for authorisation within the EU27 for certain businesses.

“The complexity and the lack of clarity of the application of a hard Brexit may decrease the effectiveness, or applicability of some of these contingency plans,” the bourse operator said in a statement.

The LSE also reported a 21 percent rise in first-half adjusted operating profit to 480 million pounds ($629.09 million) as its clearing, capital markets and information services businesses grew strongly.

Adjusted operating profit was forecast at 459 million pounds according to company supplied consensus from 13 analysts. ($1 = 0.7630 pounds) (Reporting by Noor Zainab Hussain in Bengaluru, editing by Huw Jones)

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