LSEG pre-close period update for the eleven months ended 29 February 2012

Unless otherwise stated, the following commentary refers to the eleven months ended 29 February 2012 and, where appropriate, to the corresponding period last year.

  • Continued good operational performance, underpinning expectations of strong results for the current financial year
  • Total equity capital raised on our markets amounted to £34.6 billion (2011: £37.4 billion), with 144 new issues admitted to our markets (2011: 167). In addition, a further 458 bonds have been admitted to the Group’s MOT and ORB bond markets (2011: 219)
  • Average daily UK equity value traded down 2 per cent and Italian average daily volumes up 2 per cent; trading on Turquoise’s equity platform increased 54 per cent. Share of order book trading in UK cash equities for Q4 to date increased to 62.7 per cent (Q3 60.5 per cent)
  • In fixed income trading, MTS money markets (repo) and cash markets value traded decreased 8 and 10 per cent respectively; MTS trading is up sequentially Q4 on Q3. MOT retail bond trading volumes up 33 per cent with Q4 trading significantly higher than Q3
  • Derivatives trading volumes on IDEM increased 2 per cent over the same period last year; Turquoise Derivatives increased 16 per cent
  • Clearing volumes up 3 per cent and open interest increased 19 per cent on last year at 5.7 million contracts; net treasury income has remained strong in the final quarter of the current financial year and is expected to exceed Q3 even after reductions in deposit interest rates achieved in March
  • Settlement instructions decreased 3 per cent; the custody business saw a 1 per cent increase in value of assets under custody at €3.04 trillion
  • The number of professional users of UK real-time information decreased by 2,000 to 91,000, while professional users of Borsa Italiana data declined by 3,000 to 135,000 year on year; demand for other information products, including FTSE, UnaVista and SEDOL, remained good

The Group expects to announce its Preliminary results for the year ending 31 March 2012 on 18 May 2012.

Further information is available from:

London Stock Exchange Group plc
Victoria Brough Media +44 (0)20 7797 1222
Paul Froud Investor Relations +44 (0)20 7797 3322

Citigate Dewe Rogerson
Patrick Donovan / Grant Ringshaw +44 (0)20 7638 9571

Capital   Markets - Primary Markets

     
         
 

Eleven months ended

 

29 Feb

 

28 Feb

Variance

 

2012

 

2011

%

New   Issues

       

UK   Main Market, PSM & SFM

54

 

68

(21%)

UK   AIM

82

 

90

(9%)

Borsa   Italiana

8

 

9

(11%)

Total

144

 

167

(14%)

         

Company   Numbers (as at period end)

       

UK   Main Market, PSM & SFM

1,444

 

1,473

(2%)

UK   AIM

1,122

 

1,178

(5%)

Borsa   Italiana

291

 

298

(2%)

Total

2,857

 

2,949

(3%)

         

Market   Capitalisation (as at period end)

       

UK   Main Market (£bn)

1,947

 

1,984

(2%)

UK   AIM (£bn)

71

 

83

(14%)

Borsa   Italiana (€bn)

378

 

466

(19%)

Borsa   Italiana (£bn)

319

 

398

(20%)

Total   (£bn)

2,337

 

2,465

(5%)

         

Money   Raised (£bn)

       

UK   New

12.5

 

10.7

17%

UK   Further

6.6

 

21.7

(70%)

Borsa   Italiana new and further

15.5

 

5.0

210%

Total   (£bn)

34.6

 

37.4

(7%)

 

Capital
  Markets - Secondary Markets

     
         
 

Eleven months ended

 

29 Feb

 

28 Feb

Variance

Equity

2012

 

2011

%

Totals   for period

       

UK   value traded (£bn)

1059.7

 

1079.4

(2%)

Borsa   Italiana (no of trades m)

60.7

 

59.1

3%

Turquoise   (€bn)

472.0

 

306.0

54%

         

SETS   Yield (basis points)

0.69

 

0.71

(3%)

         

Average   daily

       

UK   value traded (£bn)

4.6

 

4.7

(2%)

Borsa   Italiana (no of trades '000)

258.3

 

252.5

2%

Turquoise   (€bn)

2.0

 

1.3

54%

         

Derivatives   (contracts m)

       

Turquoise

36.9

 

31.9

16%

IDEM

43.4

 

42.4

2%

Total

80.3

 

74.3

8%

         

Fixed   Income

       

MTS   cash and Bondvision (€bn)

2,196

 

2,434

(10%)

MTS   money markets (€bn term adjusted)

54,065

 

58,587

(8%)

MOT   number of trades (m)

4.82

 

3.62

33%

 

Post   Trade Services

       
         
 

Eleven months ended

 

29 Feb

 

28 Feb

Variance

 

2012

 

2011

%

CC&G   Clearing (m)

       

Equity   clearing (trades)

64.0

 

62.1

3%

Derivative   clearing (contracts)

43.3

 

42.4

2%

Total   Contracts

107.3

 

104.5

3%

Open   interest (contracts as at period end)

5.7

 

4.8

19%

Initial   margin held (average €bn)

9.5

 

6.8

40%

         

Monte   Titoli

       

Pre   Settlement instructions (trades m)

30.7

 

28.3

8%

Settlement   instructions (trades m)

31.6

 

35.6

(11%)

Total   Settlement

62.3

 

63.9

(3%)

Custody   assets under management (average €tn)

3.04

 

3.00

1%

 

Information   Services

       
         
 

As at

 

29 Feb

 

28 Feb

Variance

 

2012

 

2011

%

UK   Terminals

       

Professional   - UK

38,000

 

38,500

(1%)

Professional   - International

53,000

 

54,500

(3%)

Total  

91,000

 

93,000

(2%)

         

Borsa   Italiana Professional Terminals

135,000

 

138,000

(2%)