London Stock Exchange plc pre-close trading update

Unless otherwise stated, the following commentary refers to non-financial KPIs for the eleven months ended 30 November 2014 and, where appropriate, to the corresponding period last year. 

  • Good year-on-year increases in activity across all main LSEG  businesses
  • £41.0 billion equity capital raised on the Group’s markets for the period (2013: £26.7 billion): 193 new issues (2013: 140); new issue pipeline remains encouraging
  • Average daily UK equity value traded up 12 per cent; Italian average daily volumes up 16 per cent
  • Fixed income cash markets value traded increased 35 per cent and MTS money markets (repo) value traded increased 1 per cent
  • Italian clearing volumes increased 14 per cent; initial margin held decreased  15 per cent, averaging €9.9 billion
  • SwapClear interest rate swap clearing showed strong growth in notional cleared of $606 trillion, up 29 per cent, with $271 trillion compressed contributing to a year-to-date net reduction in notional outstanding of $22 trillion; Global client swap clearing was up 126 per cent at $117 trillion; over $186 trillion cleared since launch of service
  • LCH.Clearnet’s fixed income clearing increased 1 per cent to €67.7 trillion; listed derivatives clearing also rose 2 per cent; and, equities clearing increased 29 per cent on the same period last year 
  • ETF assets benchmarked to FTSE up 20 per cent; demand for other information products, including UnaVista and SEDOL, remained strong. Professional users of UK market real time information decreased 5 per cent and users of Italian data increased 1 per cent year on year
  • LSEG announced completion of acquisition of Frank Russell Company on 3 December 2014; the comprehensive review of Russell’s investment management business is making good progress and is on track to be completed early in 2015

Commenting on performance for the period, Xavier Rolet, Group Chief Executive, said:

“The Group has made good progress this year, with strong performances across all our main business areas.  We are also pleased to have recently completed the acquisition of Frank Russell Company and work is already well underway to integrate the Russell and FTSE indices operations to deliver significant cost and revenue benefits.

“The Group continues to develop, diversify and evolve. We now have strong market positions in a wide range of businesses and geographies, including North America.”

The Group expects to announce its Preliminary results for the period ending 31 December 2014 on 5 March 2015.

Further information is available from:

London Stock Exchange Group plc

Victoria   Brough – Media

Paul   Froud – Investor Relations

+44   (0) 20 7797 1222

+44   (0) 20 7797 3322

RLM   Finsbury

Guy   Lamming / David Henderson

+44   (0) 20 7251 3801

 

Additional information on London Stock Exchange Group can be found at www.lseg.com

Key Performance Indicators

Capital Markets -   Primary Markets

Eleven   months ended

30   November

Variance

2014

2013

%

New Issues

UK Main Market, PSM   & SFM

68

43

58%

UK AIM

101

86

17%

Borsa Italiana

24

11

118%

Total

193

140

38%

Company Numbers (as   at period end)

UK Main Market, PSM   & SFM

1,349

1,359

(1%)

UK AIM

1,099

1,094

0%

Borsa Italiana

305

285

7%

Total

2,753

2,738

1%

Market   Capitalisation (as at period end)

UK Main Market (£bn)

2,265

2,224

2%

UK AIM (£bn)

72

73

(1%)

Borsa Italiana (€bn)

485

443

9%

Borsa Italiana (£bn)

386

370

4%

Total (£bn)

2,723

2,667

2%

Money Raised (£bn)

UK New

14.8

11.2

32%

UK Further

15.9

14.4

10%

Borsa Italiana new   and further

10.3

1.1

836%

Total (£bn)

41.0  

26.7  

54%

 

Capital Markets -   Secondary Markets

Eleven   months ended

30   November

Variance

Equity

2014

2013

%

Totals for period

UK value traded   (£bn)

1,069

952

12%

Borsa Italiana (no   of trades m)

61.7

53.4

16%

Turquoise value   traded (€bn)

863.5

606.4

42%

SETS Yield (basis points)

0.63

0.66

(5%)

Average daily

UK value traded   (£bn)

4.6

4.1

12%

Borsa Italiana (no   of trades '000)

265

228

16%

Turquoise value   traded (€bn)

3.67

2.57

43%

Derivatives   (contracts m)

LSE Derivatives

10.8

15.6

(31%)

IDEM

35.8

30.3

18%

Total

46.6

45.9

2%

Fixed Income

MTS cash and   BondVision (€bn)

3,933

2,921

35%

MTS money markets   (€bn term adjusted)

68,066

67,591

1%

 

Post Trade Services - CC&G and   Monte Titoli

Eleven   months ended

30   November

Variance

2014

2013

%

CC&G Clearing   (m)

Equity clearing (no   of trades)

64.5

56.1

15%

Derivative clearing   (no of contracts)

35.8

31.7

13%

Total

100.3

87.8

14%

Open interest   (contracts as at period end)

6.0

6.4

(6%)

Initial margin held   (average €bn)

9.9

11.6

(15%)

Monte Titoli

Settlement   instructions (trades m)

60.1

52.7

22%

Custody assets under   management (average €tn)

3.30

3.34

(1%)

 

 

Post Trade Services   - LCH.Clearnet

Eleven   months ended

30   November

Variance

2014

2013

%

OTC derivatives

SwapClear

IRS notional   outstanding ($trn)

404

452

(11%)

IRS notional cleared   ($trn)

606

469

29%

SwapClear members

113

103

10%

CDSClear

Open interest (€bn)

37.4

23.6

58%

Notional cleared   (€bn)

58.4

166.8

(65%)

CDSClear members

10

11

(9%)

ForexClear

Notional value   cleared ($bn)

817

830

(2%)

ForexClear members

21

19

11%

Non-OTC

Fixed income - Nominal value (€trn)

67.7

67.2

1%

Commodities (lots m)

123.6

112.9

9%

Listed derivatives   (contracts m)

163.0

159.4

2%

Cash equities trades   (m)

414.1

321.0

29%

Average cash   collateral (€bn)

47.1

39.5

19%

 

Information Services

As   at

30   November

Variance

2014

2013

%

Terminals

UK

76,000

80,000

(5%)

Borsa Italiana   Professional Terminals

130,000

129,000

1%

FTSE ETFs assets under management benchmarked   ($bn)

222

185

20%