LSE quits industry body to go it alone

The London Stock Exchange (LSE) is quitting the industry&rsquo;s main European association as it seeks a free hand to lobby regulators mulling a crackdown on off-exchange trading at banks and dark pools.<br /><br />The LSE &ndash; Europe&rsquo;s biggest stock market &ndash; will leave the Federation of European Securities Exchanges (FESE), which has been influential in the past as it spoke for the industry with one voice.<br /><br />&ldquo;We will seek to work with regulators, legislators and the markets we serve across Europe more directly going forward,&rdquo; the LSE said.<br /><br />Exchange officials have said privately for some time that divergences were appearing between FESE and the LSE under the helm of Xavier Rolet, who took over as chief executive in May.