Market report - Oct 2004

London Stock Exchange Plc
09 November 2004


News Release


9 November 2004
MR40-10.04


                    STRONG ORDER BOOK TRADING DURING OCTOBER


The average daily value traded on SETS, the London Stock Exchange's electronic
order book, was £3.6 billion during October 2004, up 14 per cent on the same
month last year.  The total number of trades on SETS during the month was a
record 3,658,902, whilst the value traded during the month increased 4 per cent
on the previous year to £75.7 billion.  This was achieved in just 21 trading
days in October 2004, compared with 23 in October 2003.

SETSmm, the Exchange's hybrid trading service, marked the completion of its
first full year of trading with a record 341,351 trades on the order book during
October, worth £3.6 billion.  Excluding the 22 stocks which listed after the
launch of the platform, there were a total of 433,803 trades in SETSmm stocks
during the month, worth a total of £12.1 billion. This was a 150 per cent
increase in the number of trades and a 15 per cent increase on the value traded
in the same stocks in October 2003, prior to the introduction of SETSmm.

The average daily value traded in UK and international equity across the London
Stock Exchange during the month was £18.1 billion, up 11 per cent on the average
daily value traded in October 2003.  In total there were 5,778,066 UK and
international equity trades during October with a value of £379.3 billion.

The average daily value traded in ETFs on the Exchange during October was £15.86
million, an increase of  25 per cent on October 2003.  There were 6,454 ETF
trades during the month with a total value of £333.1 million.  These figures
included one week's trading data for the iShares FTSE/ Xinhua China 25 ETF,
which began trading on 25 October.

On the primary market there were 43 new issues raising £371.1 million. The Main
Market saw six IPOs: five UK companies raising £92.8 million between them; and
one international company raising £75.4 million.  There were 22 IPOs on AIM,
raising a total of £189.0 million between them, and one transfer from AIM to the
Main Market.

These figures bring the total number of new issues on the Main Market this
calendar year to 47, raising a total of £3.6 billion.  Of these new issues 35
were IPOs.  On AIM there have been 271 new issues this year, including 179 IPOs.
 New issues on AIM this year have raised a total of £2.0 billion.

                                    - ends -


For further information, please contact:

Catherine Mattison          Press Office   [phone]       
                            [e-mail]


Notes to editors:
     
•    About the London Stock Exchange:

     The London Stock Exchange is one of the world's foremost equity exchanges 
     and a leading provider of services that facilitate the raising of capital 
     and the trading of shares.

     The London Stock Exchange is the most international equities exchange by 
     trading in the world and Europe's largest pool of liquidity.  By the end of 
     2003, the market capitalisation of UK and international companies on the 
     London Stock Exchange's markets amounted to £3.3 trillion, with £3.6 
     trillion of equity business transacted over the year.

     The London Stock Exchange is a Recognised Investment Exchange (RIE) under 
     the Financial Services and Markets Act 2000 and is supervised by the 
     Financial Services Authority.


•    SETS - the electronic order book.

     It is over six years since the launch of SETS and the service continues to 
     go from strength to strength. Overall, the market is benefiting from 
     tighter spreads and greater liquidity. Usage of SETS continues to grow, as 
     shown by recent record increases in the number of orders entered, the 
     number of firms using the order book and order book share of business.

     Indices are calculated and managed by FTSE Group, a world-leader in the 
     creation and management of global equity indices. The FTSE Group is jointly 
     owned by the London Stock Exchange and the Financial Times, but operates as 
     a wholly autonomous company.

     For information about the company or any FTSE indices, please contact
     [e-mail]


•    IPO

     An IPO or Initial Public Offering is when a new company joins our market
     and raises capital by issuing shares.  This excludes transfers and
     introductions (when companies join the market without raising money).


•    SETSmm

     SETSmm is the Exchange's successful trading service for FTSE 250 and other
     leading non order book securities.  By combining the best features of the
     existing SETS and SEAQ trading services, SETSmm appeals to market users who 
     want to trade electronically, as well as those customers who use the market 
     making system.


•    Retail Trading Figures

    Retail trading figures are available from our website at -
    www.londonstockexchange.com/en-gb/products/membershiptrading/retailtradestat
    Figures are available from November 2002 to date.


LONDON STOCK EXCHANGE
MONTHLY FACTSHEET FIGURES

October 2004

                                                2004                             2003
DOMESTIC EQUITY TRADING                        Month    Year to date            Month    Year to date

Equity Trading Value (£m)                    194,942       1,945,706          200,299       1,560,049
Number of Equity Trades                    4,718,184      44,409,818        4,598,411      38,591,365


INTERNATIONAL EQUITY TRADING

Equity Trading Value (£m)                    184,405       1,936,660          174,450       1,455,336
Number of Equity Trades                    1,059,882       9,668,615          778,646       8,411,086


ORDER BOOK TRADING

Order Book Value (£m)                          75,723         735,220           73,007           599,074
Order Book Trades                           3,658,902      33,344,743        3,272,393        27,412,245


                                                     August 2004              August 2003

DOMESTIC MARKET CAPITALISATION (£bn)                                1,430                           1,323

TOTAL NUMBER OF COMPANIES                                           2,787                           2,685
UK list                                              1,472                    1,573
Foreign                                              357                      390
AIM                                                  958                      722
of which techMARK                                    168                      183


                                                 2004                           2003
MONEY RAISED (£m)                               Month    Year to date          Month      Year to date

UK & AIM New Issues Equity                        296           4,938            178             2,014
Further, Rights and Other                       1,336           8,719            550             4,724
Bonds, Warrants, Fixed Interest                10,284         107,177         14,712            99,701
Int. New Issues Equity                             75             662            869               969
Further, Rights and Other                          13             192             41             4,889
Bonds, Warrants, Fixed Interest                 5,258          77,878          8,236            81,569

COMPANIES ADMITTED                                 43             318             21               141



                      This information is provided by RNS
            The company news service from the London Stock Exchange