London Stock Exchange Posts 7.1% Higher FX Revenue in Q3

The London Stock Exchange Group (LSEG) on Friday published a trading update for the third quarter of the ongoing fiscal, reporting a strong performance across all divisions.

As per the official figures, the total income of the group jumped by 7.6 percent in the quarter to £1.69 billion. The gross profit came in at £1.55 billion, which is a yearly increase of 7.3 percent.

The group saw a growth in demand across all its business segments: data analytics, capital markets, and post-trade.

Forex revenue, which falls under the capital markets, also echoed the overall growth to bring £56 million in quarterly turnover. That was a year-over-year jump of 7.1 percent.

Demand in All Markets Jumped

Income from equities trading surged by 15.4 percent to £60 million, whereas fixed income, derivatives and others gained 21.1 percent year-over-year to £195 million.

Data analytics and post-trade services also saw a surge in their business demand. Data analytics revenue for the quarter jumped by 6 percent, while the post-trade revenue jumped by 11.5 percent, bringing a total income of £218 million, 2.3 percent higher than the previous year.

“The Group has delivered a strong Q3 financial performance with revenue growth across all divisions,” said LSEG CEO David Schwimmer.

“We are making excellent progress on the integration of Refinitiv and are comfortably on-track to achieve £125 million of cost synergies in 2021, ahead of our original phasing. We continue to execute across a number of workstreams to deliver the target revenue synergies. The Group is well placed as we make targeted investments in product and technology enhancements to help us meet the needs of our customers and capitalize on the growth trends driving change across our industry.”