LSE revenue rises as Deutsche Borse merger moves forward

LSE revenue rises as Deutsche Borse merger moves forward

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London Stock Exchange Group has reported higher third quarter revenues and profits and said it remains focused on its merger with Deutsche Borse.

Between July and September, the company recorded total income of £414m ($508m), up 19% from same period a year ago. Net revenue rose 15% to £376.2m for the period.

Chief executive Xavier Rolet said the group had produced a good performance, with growth across core businesses.

Revenues for the capital markets division climbed 16%, with primary and secondary markets performing well despite volatile markets

Income increased 29% for LCH, the group's clearing unit, with 21% revenue growth in OTC derivatives from higher SwapClear client trades.

Income from the firm’s post-trade services unit was up 23% due to increased settlement and custody revenues.

The exchange is trying to put the finishing touches to its £21bn merger with its German counterpart Deutsche Borse.

Rolet added that the LSE remain focused on achieving the necessary regulatory approvals to complete the merger, creating a global markets infrastructure group.

The European Commission concluded its initial competition review of the merger and announced that it opened a further (Phase II) process at the end of September.

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