There is one item – and a lot of questions – on the run sheet for this week’s In the FICC of It podcast as Colin Lambert and Galen Stops take a long hard look at the London Stock Exchange Group’s $27 billion for Refinitiv. Not least, Stops wants to know, is this the trigger for another round of M&A deals in the platform world? What does this mean for Deutsche Boerse, which has lost out on the FX platforms it was seeking to buy, and for LSEG itself?

He is also interested in the role to be played by Blackstone as a large stakeholder in the enlarged exchange and data group, which means Lambert has to turn stock analyst…which goes well.