Latest Results & Presentations

Trading Statement including Revenues and KPIs for the three months ended 30 September 2019 (Q3)

18 October 2019

  • Strong Q3 performance across all parts of the Group – LCH continues to grow strongly in OTC products; FTSE Russell performing well with growth in subscription revenues
  • Q3 total income up 12% to £587 million

  • On a nine-month year-to-date basis total income up 9% to £1,727 million

  • Proposed acquisition of Refinitiv continues to progress:

    • Appointment of David Shalders as Chief Integration Officer and member of the LSEG Executive Committee, reporting to LSEG CEO

    • Regulatory approvals process and integration planning underway
    • Integration Management Office established
    • Shareholder circular posting soon with General Meeting scheduled for November 2019
    • Transaction remains on track for completion in H2 2020

Q3 summary

  • Information Services:  revenues up 9% to £230 million. FTSE Russell up 10%, with strong performance in subscription revenues

  • Post Trade - LCH:  income up 19% to £197 million. Strong results driven by 22% revenue growth in OTC clearing with strong volumes at SwapClear and continued growth in net treasury income, up 16%

  • Post Trade - Italy:  income up 8% to £39 million. Good performance supported by growth in clearing; settlement, custody and net treasury income, reflecting good volumes in fixed income

  • Capital Markets:  revenues up 14% to £102 million. On a like-for-like basis (adjusting for last year’s IFRS 15 change), revenue increased 5%, with growth in Primary Markets and in fixed income trading partly offset by subdued equity markets trading

  • Technology:  revenues up 2% to £16 million