The London Stock Exchange Group (LSEG) intends to transition its clients from the Refinitiv Eikon platform to its newer Workspace system by the close of 2024. During LSEG’s 2023 H1 earnings call, David Schwimmer, LSEG’s chief executive, revealed that Refinitiv’s financial platform, Eikon, would be discontinued in early 2025, anticipating that the shift to Workspace would largely be complete by the end of 2024.
The transition comes after LSEG’s acquisition of Refinitiv in 2021 for $27bn, resulting in subscription revenue making up over 75% of the group’s earnings. LSEG’s collaboration with Microsoft on the Workspace platform has been significant, with Microsoft investing a 4% stake in the exchange at the end of last year.
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