Latest Results & Presentations

Trading Statement including revenues and KPIs for the three months ended 30 September 2020 (Q3)

Resilient Q3 performance across the Group despite challenging market conditions
Q3 total income up 2% to £600 million
On a nine-month year-to-date basis total income up 6% to £1,835 million
Continue to demonstrate strong operational resilience, focusing on continuity of service for customers and the welfare of employees, majority of whom continue to work remotely due to COVID-19 pandemic
Well positioned for Brexit with diversified revenue mix. LCH Limited recognised as a Tier 2 CCP under the EMIR 2.2 supervisory framework as part of the wider ESMA recognition of the UK framework as equivalent until at least 30 June 2022
Proposed acquisition of Refinitiv continues to make good progress; additional merger clearances achieved and conditional divestment of Borsa Italiana to Euronext agreed; expect to complete Refinitiv transaction in Q1 2021

Information Services: revenues up 1% to £223 million and up 4% on an organic and constant currency basis (up 4% on a nine-month year-to-date basis). Subscription revenue at FTSE Russell up 4% (up 7% on a constant currency basis) while asset-based revenues decreased 7% (down 3% on a constant currency basis) reflecting lower levels of passive fund AUM in the prior quarter, however, assets benchmarked against ETF products continued to rise
Post Trade: income up 5% to £259 million (up 14% on a nine-month year-to-date basis). Good growth in non-OTC and Net Treasury Income; decline in OTC revenues reflecting lower SwapClear volumes compared to elevated prior year period. Cost of Sales down 17% due to one-off positive revenue sharing impact as a result of strong income generation in the nine months year-to-date; a further small benefit is expected in Q4 2020
Capital Markets: revenues flat on prior year at £102 million (up 8% on a nine-month year-todate basis and excluding the one-off benefit of an IFRS 15 adjustment in prior year). Primary markets revenue up, with good further issuance activity; equities trading revenues lower as a result of reduced market activity