The number came as the LSE launched a new post-trade market data service, offering real-time post-trade market data from both the London Stock Exchange and Borsa Italiana cash markets.
The move comes as there is pressure on exchanges and trading platforms to streamline the way they show and sell market data at a time of fragmented markets across Europe. Earlier this month the Federation of European Securities Exchanges, of which the LSE is not a member, pledged to separate the provision of pre- and post-trade data “at a reasonable cost” by year-end.
The LSE said it was planning on the assumption that market conditions would remain mixed after trading activity was low key in April and June but strong amid volatility in May.
The exchange – which faces fresh competition from NYSE Euronext’s decision to set up a UK-based platform to attract international company listings – said sales in the April to June period were £158.2m, 1 per cent higher than the same period in 2009.
Turnover from its UK cash equities business was down 14 per cent year on year at £24.4m, partly reflecting a reduction in charges. Sales from its broader capital markets business were down 6 per cent at £74.2m.
However, sales from the LSE’s technology services division almost doubled year on year to £12.7m. The increase was driven by the acquisition of Sri Lanka’s Millennium IT, as part of an overhaul of its trading technology.
Xavier Rolet, LSE chief executive, said good progress was being made in preparation for this autumn’s roll-out of Millennium’s trading system.
He said he was encouraged by the growth in trading on Turquoise, a platform in which the LSE took a majority stake through a deal announced last December.
The LSE said Turqouise’s UK market share had risen from 4.3 per cent in April to an average of 5.4 per cent in June.
Shares in the LSE gained 1.4 per cent to 613p in early morning trading on Wednesday.
Ref: http://www.ft.com/cms/s/0/b19e38fa-8f16-11df-a4de-00144feab49a.html
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