The London Stock Exchange Group has agreed to sell a 20% stake in its post-trade solutions business to a group of banks including JPMorgan, Barclays and HSBC.

A group of 11 banks, some of the biggest users of LSEG’s clearing services, will acquire the stake for a total of £170m in a deal which values the post-trade unit at £850m, LSEG said in a statement.