LSE CEO Rolet Sees Need for Only a Few Global Exchange Operators

(Bloomberg) — The global exchange industry is a work in progress, according to London Stock Exchange Group PLC Chief Executive Officer Xavier Rolet.

Rolet said that more consolidation is coming in the industry, and will only leave a handful of major exchange operators in the world, likely from the U.S., China and Europe.

Its starting to happen, Rolet said in an interview on Bloomberg Television on Wednesday. Our industry is like a giant construction site.

Rolet said that smaller players with niche segments of the industry probably will find themselves becoming part of the larger group in the near term.

LSE Group has made its own acquisitions in recent years. The exchange acquired Frank Russell Co. for $2.7 billion last year, primarily for its index business.