Market report - May 2004
London Stock Exchange Plc
09 June 2004
9 June 2004
MR35-05.04
TRADING ON SETS REACHES NEW HIGH
Trading on SETS, the London Stock Exchange's electronic order book, reached a
new high in May 2004 as the Exchange recorded more year on year increases in
trading across its markets.
Over the course of May, the daily average number of trades on SETS reached a new
high of 163,565, an increase of 29 per cent on the daily average for the same
month last year. The total number of trades on SETS was up 23 per cent to 3.11
million, while the total value traded increased 28 per cent to £71.0 billion. A
similar growth trend was reflected in SETSmm, the Exchange's electronic order
book for FTSE 250 and other leading non order book securities, which reached a
new monthly record of 260,588 trades during May.
Overall there were 4.09 million UK equity trades on the Exchange, an increase of
13 per cent on last May. The value traded rose 32 per cent to £189.6 billion, up
from £143.3 billion in May 2003.
On 24 May, the Exchange launched its new EUROSETS Dutch Trading Service. In the
first week of trading, the value traded on book was €109.6 million, whilst
off-book business amounted to €1.1 billion. This start was in line with
expectations, and once vendors resolve their outstanding software issues it is
expected that the service will develop.
A new record was also set in the value of trades in covered warrants. On
average, £6.19 million worth of covered warrants was traded each day on the
Exchange during May 2004. This was significantly up on the daily average of
£345,823 traded during May 2003, and approaches the £6.92 million total value
traded in covered warrants for the whole of that month.
There were twenty nine new issues on the primary market in May, raising over
£600 million between them. Four of these new issues were on the main market,
including two IPOs. The rest were on AIM, which saw seventeen IPOs.
There were nineteen business days in May 2004, compared with twenty in May 2003.
- ends -
For further information, please contact:
Catherine Mattison Press Office +44 (0)20 7797 1395
newsroom@londonstockexchange.com
Notes to editors:
• About the London Stock Exchange:
The London Stock Exchange is one of the world's leading equity exchanges and a
leading provider of services that facilitate the raising of capital and the
trading of shares.
The London Stock Exchange is the most international equities exchange by trading
in the world and Europe's largest pool of liquidity. By the end of 2003, the
market capitalisation of UK and international companies on its markets amounted
to £3.3 trillion, with £3.6 trillion of equity business transacted over the
year.
The London Stock Exchange is a Recognised Investment Exchange (RIE) under the
Financial Services and Markets Act 2000 and is supervised by the Financial
Services Authority
• SETS - the electronic order book.
It is over six years since the launch of SETS and the service continues to go
from strength to strength. Overall, the market is benefiting from tighter
spreads and greater liquidity. Usage of SETS continues to grow, as shown by
recent record increases in the number of orders entered, the number of firms
using the order book and order book share of business.
Indices are calculated and managed by FTSE Group, a world-leader in the creation
and management of global equity indices. The FTSE Group is jointly owned by the
London Stock Exchange and the Financial Times, but operates as a wholly
autonomous company.
For information about the company or any FTSE indices, please contact
media@ftse.com
IPO - when a new company joins our market raising money. This excludes
transfers and introductions (a company that joins a market without raising
money).
• SETSmm
SETSmm is the Exchange's new trading service for FTSE 250 and other leading non
order book securities. By combining the best features of the existing SETS and
SEAQ trading services, SETSmm appeals to market users who want to trade
electronically, as well as those customers who use the market making system.
• Retail Trading Figures
Retail trading figures are available from our website at - http://
www.londonstockexchange.com/trading/retailtrade.asp
Figures are available from November 2002 to date.
LONDON STOCK EXCHANGE
MONTHLY FACTSHEET FIGURES
May 2004
2004 2003
DOMESTIC EQUITY TRADING Month Year to date Month Year to date
Equity Trading Value (£m) 189,621 1,015,814 143,296 695,197
Number of Equity Trades 4,085,434 22,632,074 3,612,087 18,322,622
INTERNATIONAL EQUITY TRADING
Equity Trading Value (£m) 199,065 1,023,417 134,345 680,189
Number of Equity Trades 881,289 4,837,603 817,172 4,459,274
ORDER BOOK TRADING
Order Book Value (£m) 71,022 375,432 55,525 282,895
Order Book Trades 3,107,728 16,333,810 2,526,556 13,350,474
May 2004 May 2003
DOMESTIC MARKET CAPITALISATION (£bn) 1,371 1,217
TOTAL NUMBER OF COMPANIES 2,711 2,736
UK list 1,513 1,637
Foreign 369 401
AIM 829 698
of which techMARK 177 201
2004 2003
MONEY RAISED (£m) Month Year to date Month Year to date
UK & AIM New Issues Equity 334 1,640 414 523
Further, Rights and Other 2,860 5,493 1,144 1,854
Bonds, Warrants, Fixed Interest 9,449 59,318 7,439 43,061
Int. New Issues Equity 268 487 - -
Further, Rights and Other 11 122 - 3,908
Bonds, Warrants, Fixed Interest 12,086 46,103 5,188 37,089
COMPANIES ADMITTED 29 120 11 53
This information is provided by RNS
The company news service from the London Stock Exchange
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