The London Stock Exchange is a step closer to ending nearly 200 years of mutuality.
LSE has called a meeting for March 15 when shareholders with voting rights will be asked to approve demutualisation proposals.
The plans need to win 75 per cent of the vote to allow dealing in LSE shares to start in May.
City estimates on the valuation of the exchange vary from £200m to £500m.
LSE chief executive Gavin Casey said demutualisation was vital to strengthen the stock exchanges global position.