LSE revenues rise as Deutsche Börse merger plans take shape
London Stock Exchange, the exchange group set to merge with rival Deutsche Börse, posted an 8% rise in first quarter revenue.
Total income reached £387.6m between January to March with most business areas posting growth.
Information services revenues were up 10%, reflecting growth at FTSE Russell.
In the clearing space, LCH revenues increased 14%, with 22% revenue growth in OTC from higher SwapClear client trades.
Capital markets revenues climbed 8% and post trade services were 12% higher.
Sales from its technology services unit were down 18%, mainly as the result of the timing of customer deliveries.
Xavier Rolet, chief executive reiterated that the group’s proposed merger with Deutsche Börse presents a compelling opportunity to expand the business. Shareholder documents on the tie-up are being prepared.
He added that the $1.1bn sale of Russell Investment Management, is on track to complete in this year’s second quarter.
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