The London Stock Exchange group (LSE) and NYSE Euronext have both reported considerable growth for cash equities volumes in the first half of 2008.
During June 2008, 20.4 million equity trades were carried out on the electronic order books of the London Stock Exchange and Borsa Italiana, with a combined value of £243.9 billion (€307.8 billion).
The number of equity trades across the group increased 18% compared with June last year, with an average daily number of trades across the two markets of 970, 317. The value traded decreased by 17% at £11.6 billion (€14.7 billion).
On the UK equity order book, the average daily number of trades increased 33% on June last year to 685,093. The average daily value traded was £7.7 billion, a decrease of 8% on the then record figure for June 2007, but up 10% on the average daily value traded during May 2008.
In the first six months of the year, UK equity order book trading continued to outperform other major European equity markets, with the average daily number of trades up 57% to 713,64 compared with the first half of 2007, and a 9% increase in daily value traded to £8.2 billion.
There were 5.1 million electronic trades in Italian equities during June, with a combined value of €82.8 billion (£65.6 billion), a decrease of 12% in the number of trades, and 37% in the value traded compared with June last year. The LSE plans to migrate Italian equities onto its TradElect platform from September this year.
There were 908,609 international equity trades across the two markets during June 2008, 40% more than during the same month last year.
The total value traded was also up year on year, increasing 6% to £17.1 billion (€21.6 billion).
Separately, NYSE Euronext also reported strong growth in transaction volume across its products and exchanges during the month of June and the first half of 2008, compared to similar periods in 2007.
NYSE’s European cash operations reported record half-year volumes, with 191 million transactions. NYSE’s European cash exchanges reported an average daily volume of 1.5 million transactions per day, an increase of 12.8% on last year.
NYSE Euronext’s US cash exchanges, the New York Stock Exchange and NYSE Arca, reported a total volume increase of 8.5% in June 2008 and 16.1% year-to-date compared to the same period in 2007.
For trading in Nasdaq-listed issues in June 2008, NYSE Euronext’s US operations achieved a 5% increase in matched volume compared to June 2007.