UK private client stockbrokers are unhappy about a takeover of the London Stock Exchange by either Deutsche Börse or Euronext. They fear tha...

UK private client stockbrokers are unhappy about a takeover of the London Stock Exchange by either Deutsche Börse or Euronext. They fear that small investors will lack any representation on a foreign-controlled stock market. Negotiations are ongoing between the LSE and the two European exchanges, with Clara Furse, the chief executive of the LSE meeting her opposite numbers at Deutsche Deutsche Börse or Euronext in early January. Top regional brokerage house Redmayne-Bentley Stockbrokers has sent an open letter to Ms Furse, which said: “The LSE was founded by a group of brokers representing small investors and the tradition of direct share ownership by private investors survives strongly to this day in the UK. But, with cross-border trading of shares in multinational corporations leading to the internationalisation of stock exchanges, that tradition is in danger of being squeezed out.” The Association of Private Client Investment Managers and Stockbrokers in the UK has also expressed misgivings towards any takeover of the LSE.