The London Stock Exchange Group has agreed to share its data centre rooftop space with rivals after an FCA investigation highlighted anti-competitive concerns, potentially reshaping high-speed trading infrastructure in London.
The London Stock Exchange Group (LSEG) has agreed to share access to the rooftop of its main data centre in London’s Docklands area with rival firms, following an investigation by the UK’s Financial Conduct Authority (FCA) into potential anti-competitive conduct. Previously, LSEG held exclusive rights to install low-latency radio equipment on the rooftop—a critical asset for delivering high-speed trading connectivity. The FCA raised concerns that this exclusivity prevented competitors from positioning their equipment optimally, forcing them to rely on inferior alternative sites and potentially hindering their ability to compete effectively in a market where microseconds can determine trading success.
Offering very fast connections is essential for maintaining vibrant competition in financial trading, the FCA highlighted. Providers of low latency connectivity services (LLCS) must be able to place radio units close to trading venues to maximise connection speed. However, under the LSEG’s previous rooftop policy, access was restricted predominantly to the exchange itself, leaving rivals at a disadvantage.
In response to the FCA’s probe, LSEG and the building’s landlord have proposed ending the exchange’s exclusive rooftop rights and making space available on a fair and reasonable basis to other LLCS providers. Under the proposed arrangement, LSEG would retain usage of half the rooftop while the other half would be equally open to competitors. The FCA has provisionally accepted these proposals as addressing its competition concerns and has initiated a public consultation period, which runs until 29 September 2025, inviting stakeholders and the public to comment on the commitments before a final decision is made.
Importantly, the FCA has not concluded that competition law has been breached; the acceptance of the commitments is a procedural step rather than an admission of wrongdoing by LSEG or the landlord. LSEG has maintained that it has not infringed UK competition rules and considers the FCA’s concerns unfounded.
The investigation and subsequent proposals have sparked wider debate within the financial sector. Industry experts note that ensuring fair access to critical infrastructure like rooftop space is vital for fostering competition and innovation in financial markets, particularly in the ultra-fast trading landscape. The FCA’s intervention reflects increasing regulatory scrutiny over how infrastructure access can influence competitive dynamics in financial services.
This development could mark a significant shift in the provision of low latency connectivity services in London, potentially levelling the playing field for LLCS providers and encouraging a more competitive environment that benefits trading firms and the overall market.
The FCA’s consultation offers a crucial opportunity for market participants to weigh in on the future access arrangements at this key data centre, with the regulator expected to announce its final decision following the consultation period.
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Source: Noah Wire Services
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
10
Notes:
The narrative is current, with the earliest known publication date being 5 September 2025. The Financial Conduct Authority (FCA) initiated its investigation into the London Stock Exchange Group (LSEG) in July 2023, and the recent developments have been reported by multiple reputable outlets, including Reuters and the Financial Times. ([reuters.com](https://www.reuters.com/sustainability/boards-policy-regulation/uk-finance-watchdog-probe-lseg-over-radio-communication-space-access-2025-09-05/?utm_source=openai), [ft.com](https://www.ft.com/content/d3a80b23-374a-400f-a9c6-8e23fdc9b021?utm_source=openai))
Quotes check
Score:
10
Notes:
The narrative includes direct quotes from the FCA and LSEG, which are consistent with statements from the FCA’s official announcement. ([fca.org.uk](https://www.fca.org.uk/news/news-stories/proposals-fair-access-LSEG-data-centre-rooftop?utm_source=openai)) No discrepancies or variations in wording were found, indicating the quotes are accurately reported.
Source reliability
Score:
10
Notes:
The narrative originates from Investment Executive, a reputable financial news outlet. The information aligns with reports from other established sources, such as Reuters and the Financial Times, confirming the reliability of the information presented. ([reuters.com](https://www.reuters.com/sustainability/boards-policy-regulation/uk-finance-watchdog-probe-lseg-over-radio-communication-space-access-2025-09-05/?utm_source=openai), [ft.com](https://www.ft.com/content/d3a80b23-374a-400f-a9c6-8e23fdc9b021?utm_source=openai))
Plausability check
Score:
10
Notes:
The claims regarding the FCA’s investigation into LSEG’s rooftop access and the proposed commitments are plausible and corroborated by multiple reputable sources. The narrative provides specific details, including the consultation period running until 29 September 2025, which are consistent with official announcements. ([fca.org.uk](https://www.fca.org.uk/news/news-stories/proposals-fair-access-LSEG-data-centre-rooftop?utm_source=openai))
Overall assessment
Verdict (FAIL, OPEN, PASS): PASS
Confidence (LOW, MEDIUM, HIGH): HIGH
Summary:
The narrative is current, accurately reports direct quotes, originates from a reliable source, and presents plausible claims consistent with information from multiple reputable outlets. No significant issues were identified, indicating a high level of credibility.
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