The London Stock Exchange Group (LSEG) achieved a strong H1 according to results released on Thursday, with growth across capital markets, data and analytics, post-trade and its index business.
“We have finished the first half strongly, maintaining our momentum in Q2 with every business line contributing to revenue growth,” said LSEG chief executive David Schwimmer.
“This reflects the strength of our proposition, the improvements we have made to our products and the depth of our relationships with customers.”
Total revenue for capital markets grew by just over 17% to £880 million on the back of fixed income and derivatives, among other things.
Equities revenue reached £120 million, driven by improving market conditions while average daily trading volume (ADV) was up 10% in comparison with the prior period.
Revenue for ‘fixed income, derivatives and other’ – accounted for Tradeweb activities – rose by 26.5% to £635 million
The division saw a record ADV of just under $2 trillion which the exchange group confirmed represented a “strong market activity” across Tradeweb’s asset classes.
In April, Tradeweb announced the acquisition of ICD, a cash management platform for corporate treasurers. The transaction is due to close imminently.
FX revenue increased by just under 1% to £125 million on the back of growth in LSEG’s dealer-to-client FXall platform.
The exchange also saw the same growth story in its data and analytics division which saw revenues rise to just over £2 billion on the back of growth in its ‘data and feeds’ products.
Data and analytics has been a key area of product expansion for LSEG in the last six months, in particular its Workspace platform.
The exchange has extended its cloud-based services to offer a full tick feed, offering full depth-of-book data.
“We are also expanding the reach of our low-latency feeds portfolio, built on the MayStreet acquisition, adding over 70 feeds during the first half,” said the exchange in its update.
In July, LSEG announced a multi-year data partnership with Dow Jones which will see its data used to power analysis across all of Dow Jones’ publications. LSEG will also be a principal deals data source.
Elsewhere, total post-trade revenue reached £462 million in H1 while total income, including net treasury income, reached £596 million.
In April, LSEG received regulatory approval to clear cash-settled Bitcoin index futures and options contracts traded on the UK Financial Conduct Authority (FCA) regulated digital asset derivatives trading venue, GFO-X.
LCH will act as clearing house to a new venue for US Treasury and SOFR contracts, FMX Futures, due to launch in September.