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London Stock Exchange revenue up 2% in third quarter

By BFN News | 07:26 AM | Friday 23 October, 2020


British bourse operator London Stock Exchange reported an uptick in third-quarter income led by a rise in its post-trade clearing business. Total income rose 2% to £600 million for the three months through September year-on-year, as information revenue climbed 1% to £223 million and post trade-income rose 5% to £259 million. Information services revenue included subscription revenue growth at FTSE Russell of 4%, and a 7% decline in asset-based revenue, reflecting lower levels of passive fund AUM in the prior quarter, the company said. The post-trade business saw good growth in non-OTC and treasury income and a decline in OTC revenues, reflecting lower SwapClear volumes compared to the elevated prior year period, it added. Capital markets revenue was flat on prior year at £102 million as equities trading revenues were lower as a result of reduced market activity. The proposed acquisition of Refinitiv was expected to be completed in the first quarter of 2021, London Stock Exchange said. Story provided by StockMarketWire.com

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