Trading Statement

RNS Number : 1140A

London Stock Exchange Group PLC

18 December 2014

 



18 December 2014

LONDON STOCK EXCHANGE GROUP 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	[phone] [phone]
RLM Finsbury	Guy Lamming / David Henderson	[phone]

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%

 

END

 

 

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