LSEG reports business doing well

The London Stock Exchange group has reported its first quarter results. Highlights include:

Information Services revenues up 10 percent (up 7 percent on organic and constant currency basis), reflecting continued good growth at FTSE Russell;

LCH revenues increased 14 percent (up 12 percent at constant currency), with 22 percent revenue growth in OTC from higher SwapClear client trades; good growth also in CDS volumes;

Capital Markets revenues up 8 percent (up 6 percent at constant currency), with growth across all areas;

Post Trade Services (Italy) income up 12 percent (up 8 percent at constant currency), with growth in clearing volumes and net treasury income;

Technology Services revenues down 18 percent, mainly as the result of the timing of customer deliveries;

– LCH received recognition as a clearing house in Singapore for SwapClear, ForexClear and EnClear (Freight); and in Japan for non-yen interest rate derivatives at SwapClear;

– LCH Spider, a new rates portfolio margining service, expected to launch in Q2, subject to regulatory approval;

– CurveGlobal expected to launch Q3 2016;

– SETS intra-day auction launched in March 2016 with good initial volumes;

– MillenniumIT, successfully implemented its Millennium PostTrade platform to support Singapore Exchange’s Central Depository (CDP) business;

– ELITE expanded to over 380 companies in 23 countries, as has been launched with partnerships in Morocco and Turkey.