Business Services Limited (BSL), London Stock Exchange Group’s (LSEG) shared services company, began operations in Sri Lanka in January 2016, providing technical support to the group’s operating entities worldwide. The $2 billion revenue LSEG set up BSL to provide technological services to more than 20 companies in the group, including London Clearing House, Borsa Italiana and FTSE Russell. With the exception of software development, BSL manages the servers that run the software supporting transactions, the networks that enable communication between the servers, and security concerns that go with the technological infrastructure.

BSL will eventually handle all functions currently outsourced to third-party firms, and is part of an ongoing process to provide uniformity across all LSEG companies as it grows and expands its businesses. LSEG invested in Sri Lanka to benefit from the high-end talent pool and cost arbitrage. BSL currently hires expats to fill skills gaps here until it develops local talent and attracts Sri Lankan Diaspora back into the country.

26,000 sq.ft.

Size of the facility at Trace Expert City

250

Number people employed. BSL intends to increase the headcount to 400

25

Number of distinctive technology services provided by BSL