The London Stock Exchange Group says its results for the three months to September 30 show continuing growth. Q3 total income from continuing operations was up 11 percent and 8 percent up for the year-to-date; headline Q3 total income was up 85 percent to £589.3 million and nine months year-to-date wass up 83 percent, to £1,798.1 million. Q3 revenues from continuing operations (excluding assets held for sale) rose by 12 percent to £326.4 million and by 10 percent for nine months year-to-date at £897.4 million.
All business divisions delivered growth on an underlying, organic and constant currency basis, says the LSEG. Information Services Q3 revenues were up 44 percent (up 5 percent on organic and constant currency basis), reflecting FTSE growth and contribution from Russell Indexes; the LSEG says its index businesses are now managed and reported as an integrated business.
LCH.Clearnet Q3 revenues, excluding loss of LME commodities clearing, increased 8 percent, with 14 percent growth in OTC; on a reported basis revenue reduced 8 percent. Capital Markets Q3 revenues were down 1 percent (but up 5 percent at constant currency), with growth in cash equities trading offset in part by weaker primary markets and reduction in fixed income trading.
Post Trade Services (Italy) Q3 revenues were down 1 percent (but up 10 percent at constant currency), with growth in clearing volumes partly offset by decline in settlement and custody. Technology Services revenues were up 20 percent (up by same amount on an organic and constant currency basis), driven by growth from MillenniumIT.
The Group says it continues to deliver on its strategy. It announced the launch of CurveGlobal, a new interest rate derivatives venture with a number of major dealer banks and CBOE, further extending its product offer and reflecting its partnership and open access approach; all products designed and supported by CurveGlobal will be admitted to trading on the Group’s, London Stock Exchange Derivatives Market, and cleared through LCH.Clearnet.
On October 8 2015, the Group announced the proposed sale of Russell Investment Management to TA Associates, for gross proceeds of US$1,150 million; the transaction is expected to complete in H1 2016. During the period, the Group confirmed the sale of Proquote, a UK market data vendor provider, which sale is expected to close in Q4 2015.