The London Stock Exchange Group’s (LSE) move to acquire a majority stake in cleaning house LCH is expected to generate millions of pounds in savings.

The deal for a 57.8 percent stake will allow the two businesses to share and condense IT systems. Cross sharing operations between the two groups is expected to be able generate savings of as much as £21 million per year.

The control of LCH will allow LSE to increase the diversity of its clients and overall market share in addition to the cost savings generated from the sharing of services.

“Together, we see significant revenue opportunities opening up as a result of both customer and regulatory demand for more efficient and more sophisticated tools to manage market risk”, said LCH Clearnet CEO Ian Axe.

UK tech investment at highest levels in a decade