Intercontinental Exchange is closing in on a deal to buy the Royal Bank of Scotland’s (RBS) four per cent stake in Euroclear.
ICE, which owns the New York Stock Exchange, is expected to buy the bank’s shareholding in the settlement house for a price estimated at around £200m by analysts.
Sky News reported that a transaction could be announced as early as this week.
RBS, which is due to report third quarter results this week, is one of around 130 shareholders in the privately held clearing house, which has major branches in the capital, Paris and Amsterdam, along with its headquarters in Brussels.
Euroclear has previously been dubbed a “hidden jewel” by UBS analysts, and plays a vital role in the world’s financial markets.
In August, UBS analysts identified Euroclear as an appealing takeover target for the London Stock Exchange Group, which announced last week that its boss Xavier Rolet, will step down next year.
Analysts said an acquisition of Euroclear by the London Stock Exchange could provide a nine to 10 per cent uplift to the stock exchange’s earnings.
Last year, the Euroclear group posted turnover of €655 trillion (£585 trillion). In the first half of 2017, the group held nearly €28 trillion in assets for clients, with 196m netted transactions processed annually.
ICE and RBS declined to comment.