November 2009 Market Report

RNS Number : 6772D

London Stock Exchange Group PLC

07 December 2009

 

7 December 2009

ETR - 26

16.4 million electronic equity trades in november

- Year on year trading growth in Italian equities, derivatives, fixed income and ETFs and ETCs

A total of 16.4 million equity trades with a combined value of £149.0 billion (€165.7 billion) were carried out across the electronic order books of London Stock Exchange Group during November.  The average daily number of trades was 781,875, 21 per cent lower than November 2008, while the average daily value traded was £7.1 billion (€7.9billion), a decrease of seven per cent on the same month last year.  

Increased trading activity in the Italian equity market and a recovery in the FTSE MIB index led to 38 per cent year on year growth in the average daily value traded on the Italian equity order book, while the average daily number of trades was up three per cent. A number of the Group's other markets also recorded strong performances during the month, with the total number of trades in derivatives, ETFs and ETCs, and on the MTS cash markets growing by 77 per cent, 91 per cent and 60 per cent respectively on last year.  

UK Cash Equities

The total value traded on the UK order book in November was £80.4 billion (€89.4 billion) and the total number of trades was 10.7 million.

During the month, the average daily value traded on the UK equity order book was £3.8 billion (€4.3 billion), a decrease of 29 per cent year on year, while the average daily number of trades was 509,078, down 30 per cent on the same month last year.

Italian Cash Equities

On the Italian equity order book, the average daily value traded was up 38 per cent on last year, reaching €2.9 billion (£2.6 billion). The average daily number of trades was 223,933, up three per cent year on year. 

The total number of trades was 4.7 million and the total value traded was €61.7 billion (£55.5 billion), year on year increases of eight and 45 per cent respectively.  

International Cash Equities

The average daily value traded in international stocks on the Group's equity order books was up 28 per cent year on year, totalling £621 million (€691 million). The average daily number of trades was 48,865, an increase of ten per cent on last November. 

ETFs and ETCs

Trading in ETFs and ETCs was strong, with the average daily number of trades up by 82 per cent year on year to 14,935. The average daily value traded was up 56 per cent to £369 million (€411 million). 

Derivatives 

The average daily number of contracts traded on the Group's derivatives markets, EDX London and IDEM, was up 69 per cent on last year at 508,607. The average daily notional value traded was £4.1 billion (€4.6 billion), seven per cent lower than the same month last year.  On EDX, the Open Interest on Russian options reached a record 20.5 million.

Growth on IDEM has been particularly marked. So far this year, a total of 40.5 million contracts have been traded on IDEM, a 20 per cent increase on the same period last year, with the number of trades in November nearly doubling year on year, up by 98 per cent to 253,094.  Between January and November 2009, stock options grew by 11 per cent compared to the same period last year, to around 20.8 million standard contracts, while stock futures increased by 148 per cent, totalling around 10.8 million standard contracts. November 2009 itself marked a new record for standard contracts in stock futures, totalling 3.0 million contracts, a 578 per cent increase on October 2009 and up 637 per cent on November 2008. 

Fixed income

Trading on the MTS Cash markets remained strong, with the average daily value traded more than doubling, up by 113 per cent year on year at €11.6 billion (£10.4 billion), while on the MTS Repo market the average term adjusted daily value traded increased by 22 per cent year on year to €143.1 billion (£128.7 billion).

On MOT, Borsa Italiana's retail fixed income market, the average daily value traded was €811 million (£729 million), a six per cent year on year decrease, while the average daily number of trades was 12,313, 17 per cent lower than the same month last year. 

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For further information, please contact:

Alastair Fairbrother [phone]

Anna Mascioni [phone]  

Additional Information:

This release uses only electronic trading data; trades that are reported to the either London Stock Exchange or Borsa Italiana under their rules but executed away from their electronic order books are not included.

There were 21 trading days on the London Stock Exchange and Borsa Italiana during November 2009, one more than during the previous year. 

During November, the average daily number of trades on SETS - covering all equity based order book trading on the London Stock Exchange - was 545,727 down 28 per cent on November 2008. The average daily value traded was £4.5 billion, a decrease of 25 per cent year on year.

Primary market data for November will be available on the websites of London Stock Exchange and Borsa Italiana later in the month.

The November 2009 value traded figures use a € per £ exchange rate of 1.11. The exchange rate used for November 2008 was 1.20.

BORSA ITALIANA - LONDON STOCK EXCHANGE ELECTRONIC ORDER BOOK TRADING
		November 2009				November 2008
		Totals
		Trades	Value Traded £m	Value  Traded €m		Trades	Value Traded £m	Value  Traded €m
UK equities		10,690,629	80,405	89,446		14,460,167	107,540	129,468
Italian equities		4,702,598	55,503	61,744		4,349,418	35,433	42,658
International equities		1,026,156	13,051	14,518		891,388	9,732	11,717
ETFs & ETCs		313,625	7,751	8,622		164,123	4,735	5,700
Securitised Derivatives		153,733	955	1,063		166,970	703	847
Derivatives (EDX, IDEM)		10,680,745	86,245	95,943		6,029,981	87,939	105,869
MOT		258,579	15,301	17,021		295,722	14,318	17,238
MTS Cash		36,079	219,386	244,054		22,547	90,682	109,173
MTS Repo		44,775	2,701,913	3,005,720		47,598	1,956,400	2,355,314
		Average daily
UK equities		509,078	3,829	4,259		723,008	5,377	6,473
Italian equities		223,933	2,643	2,940		217,471	1,772	2,133
International equities		48,865	621	691		44,569	487	586
ETFs & ETCs		14,935	369	411		8,206	237	285
Securitised Derivatives		7,321	45	51		8,349	35	42
Derivatives (EDX, IDEM)		508,607	4,107	4,569		301,499	4,397	5,293
MOT		12,313	729	811		14,786	716	862
MTS Cash		1,718	10,447	11,622		1,127	4,534	5,459
MTS Repo		2,132	128,663	143,130		2,380	97,820	117,766
		January to November 2009				January to November2008
		Totals
		Trades	Value Traded £m	Value  Traded €m		Trades	Value Traded £m	Value  Traded €m
UK equities		139,408,898	959,548	1,077,022		174,815,555	1,801,956	2,300,646
Italian equities		56,607,552	543,335	610,311		62,379,692	755,738	964,667
International equities		11,063,956	118,861	133,519		10,435,795	193,241	246,428
ETFs & ETCs		2,922,103	79,662	89,406		1,652,412	59,646	75,877
Securitised Derivatives		1,805,439	8,537	9,577		2,557,595	17,199	21,958
Derivatives (EDX, IDEM)		100,274,668	905,588	1,016,034		89,818,719	1,379,490	1,759,128
MOT		3,328,837	191,528	214,901		2,786,034	127,023	161,374
MTS Cash		332,647	1,704,547	1,789,934		416,171	1,707,200	2,195,897
MTS Repo		494,596	29,533,217	33,153,328		574,718	23,689,516	30,096,606
		Average daily
UK equities		600,900	4,136	4,642		750,281	7,734	9,874
Italian equities		241,913	2,322	2,608		266,580	3,230	4,123
International equities		47,557	512	575		44,729	829	1,057
ETFs & ETCs		12,512	342	384		7,068	255	325
Securitised Derivatives		7,716	36	41		10,930	73	94
Derivatives (EDX, IDEM)		430,725	3,882	4,356		384,868	5,905	7,530
MOT		14,226	818	918		11,906	543	690
MTS Cash		1,422	7,284	7,649		1,779	7,296	9,384
MTS Repo		2,114	126,210	141,681		2,456	101,237	128,618
For Derivatives, the values used are notional values while "trades" refer to contracts traded. Value traded figures for MTS Repo are term-adjusted, and totals for MTS Cash include BondVision.

 

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