Trading Statement

London Stock Exchange Plc
29 September 2005

29 September 2005


                             PRE-CLOSE PERIOD UPDATE
                            London Stock Exchange plc

Unless otherwise stated, the following commentary refers to the five months
ended 31 August 2005 and, where appropriate, to the corresponding period last
year.

London Stock Exchange plc ("the Exchange") today issued a routine update ahead
of the close period relating to the six months ending 30 September 2005.

In summary, the Exchange has made a very strong start to the financial year,
benefiting from good momentum in all core business areas:

•         Total new issues up almost 50 per cent to 272

•         SETS bargains/day up 30 per cent to 200,000

•         Professional terminals at 84,000 - up 4,000 since August 2004 and
          1,000 since June 2005

Issuer Services

With new issues totalling 272 (2004: 183), the five months to the end of August
2005 was the strongest period for new issue activity on the Exchange in over
three years.  This represented growth of almost 50 per cent on 2004, a period
which itself saw new issues increase by over 100 per cent.  At 46, the number of
Main Market new issues was up 84 per cent on the previous year (2004: 25), while
the average size of a Main Market IPO increased to £353m (2004: £210 million).
AIM continued its record of excellent growth with 226 new issues, 43 per cent
ahead of the previous year (2004: 158).

International new issues on the Main Market doubled and AIM international new
issues increased to 46 from 21 in the comparable period, reflecting the
Exchange's marketing to overseas companies.

The total number of companies on the Exchange's markets at 31 August 2005 was
3,012 (2004: 2,762), of which 1,292 were on AIM (2004: 917).

Broker Services

The period was characterised by record levels of activity in both value and
volume traded.  Total equity bargains increased 31 per cent to 33.4 million
(2004: 25.5 million), principally driven by continued growth in SETS volumes.
The average number of equity bargains per day was 315,000 (2004: 245,000), an
increase of 29 per cent, and the total value of equity bargains rose to £2.0
trillion (2004: £1.8 trillion).

Average daily SETS bargains increased 30 per cent to 200,000 (2004: 154,000).  A
new monthly record was established in July when average daily SETS bargains
reached 222,000.  This strong growth in SETS bargains reflects the increasing 
impact of derivatives-based business originating in the broader UK market and 
the increased contribution from SETSmm, the hybrid electronic order book, which 
averaged 27,800 bargains per day (2004: 12,800).

The total value of SETS bargains increased 22 per cent to £425bn (2004:
£347bn), while the average value of a SETS bargain decreased by 9 per cent to
£20,000 (2004: £22,000).  Notwithstanding significant volume increases, average
yield per SETS bargain has remained steady, broadly in line with levels seen in
the second half of 2004/05.

The number of off book bargains decreased 2 per cent to an average of 45,000
bargains per day (2004: 46,000), while the daily average number of international
bargains for the period rose to 71,000 (2004: 45,000).

Information Services

The number of terminals receiving real time Exchange data continues to show
steady improvement, standing at 97,000 at the end of the period (30 June 2005:
96,000; 31 August 2004: 91,000).  The number of terminals attributable to higher
yield professional users was 84,000, an increase of 4,000 on the previous year
(31 August 2004: 80,000) and up 1,000 on the end of the first quarter (30 June
2005: 83,000).

Proquote, the Exchange's provider of financial market software and data
services, had 2,800 screens, up 500 on same time last year (31 August 2004:
2,300).

Derivatives Services

The total number of contracts traded on EDX London increased 6 per cent to 8.4
million (2004: 7.9 million).  Average contracts per day increased 3 per cent to
78,000 (2004: 76,000).

Current Trading

Commenting on current trading, Clara Furse, Chief Executive, said:

"We have continued to see good momentum in all core business areas:  SETS
trading volumes have shown strong growth, with record performances during the
period; primary market activity has been buoyant; and the number of professional
terminals has shown further improvement.  These trends underpin our expectation
of an excellent trading performance."


Further information is available from:

London Stock Exchange   John Wallace - Media                       020 7797 1222
                        Paul Froud - Investor Relations            020 7797 3322
                        Lyndal Kennedy - Investor Relations        020 7797 3322
Finsbury                James Murgatroyd                           020 7251 3801




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