LSEG (London Stock Exchange Group) and Barclay’s have signed a new multi-year strategic partnership.
Building on their longstanding relationship, the agreement “includes a wide range of capabilities to support Barclays across the full ecosystem of businesses to enhance delivery for customers and clients and prepare for the next generation in financial services.”
The new collaboration will see LSEG “provide Barclay’s access to its market-leading data, insights and capabilities, workflow solutions and feeds, as well as supporting Barclays in its digitalization journey, cloud adoption and customer platform enhancements.”
Barclays is also in discussions with LSEG and Microsoft “to become a member of their Design Partner Program, which is in the process of being established following the strategic partnership that was announced between the two organizations in December 2022.”
The Design Partner Program will seek “to gather and analyse data and insights from customers while validating product concepts to ensure delivery of real and meaningful customer solutions to the market.”
LSEG and Barclays are “committed to working together to enhance and develop LSEG products and services.”
Ron Lefferts, Group Head of Sales & Account Management, LSEG said:
“We are delighted to have signed a new multi-year agreement with Barclays. They have been a long-standing, highly valued customer for a number of years and the strategic partnership will see us work together across a broad range of global, multi-asset class products and services.”
Paul Compton, Global Head of the Corporate and Investment Bank (CIB), and President of Barclays Bank PLC commented:
“LSEG is a long-term client and partner to Barclays and this engagement will see us working together to enhance existing offerings and develop new and innovative products and services. Continuing this relationship will maximize how we deliver results for clients globally, accelerate our digital transformation and advance our goals of consolidating relationships with a smaller number of global strategic market data vendors.”
As noted in the update, LSEG (London Stock Exchange Group) claims it is “a leading provider of financial markets infrastructure and a global supplier of data and analytics, news and index products.”
They help businesses and economies “fund innovation, manage their risk and create jobs by supporting customers at every point in the trade lifecycle – from making pre-trade decisions and executing those trades to raising capital and settlement.”
With 23,000 people in 70 countries, they claim to “draw on 300 years of knowledge and experience to help drive financial stability, empower economies and enable sustainable growth.”