Unless otherwise stated, the following commentary refers to non-financial KPIs for the eleven months ended 30 November 2015 and, where appropriate, to the corresponding period last year.
Good performance across each of the Group businesses
In Information Services:
- Continued momentum in the integration of FTSE Russell and delivery of synergiesETF assets benchmarked to FTSE Russell up 4%
- demand for other information products, including UnaVista and SEDOL, remained strong
- trend in professional users of real time market data broadly unchanged
In Post Trade Services, LCH.Clearnet has delivered a good performance in all OTC areas:
- increased use of compression services through LCH.Clearnet, with $304 trillion compressed in total in the period, helping reduce IRS notional outstanding to $263 trillion, down 27%
- global client swap clearing up 67% - with 612,000 trades cleared
- CDS notional cleared up 165% - to €155 billion
- ForexClear notional cleared up 19% - to $974 billion
- fixed income clearing broadly unchanged - at €67 trillion
- cash equities and listed derivatives clearing up 22% and down 19% respectively, reflecting a continued decline in derivative trading levels in customer venues
In Post Trade Italy, clearing volumes increased 11%; initial margin held increased 24%, averaging €12.3 billion
In Capital Markets:
- Primary markets were robust with £40 billion equity capital raised on the Group’s markets for the period – down just 2% on last year in more challenging market conditions - with 161 new issues (2014: 193)
- Secondary markets saw average daily UK equity value traded up 9%; Italian average daily volumes up 7%; derivatives contracts traded on IDEM in Italy rose 14%; MTS money markets (repo) value traded increased 21% and fixed income cash markets value traded declined 4%
- announcement of CurveGlobal, a new interest rate derivatives venture with a number of major dealer banks and CBOE, in line with our open access and partnership approach. Products to be traded on London Stock Exchange Derivatives market and cleared through LCH.Clearnet
Commenting on performance for the period, Xavier Rolet, Group Chief Executive, said:
"The Group has once again delivered a good performance across our business areas, particularly at LCH.Clearnet and FTSE Russell. The Capital Markets business delivered a robust performance and the new issue pipeline remains encouraging.
"We continue to invest in a wide range of attractive organic growth opportunities, focusing in particular on our Post Trade and Information Services businesses. The Group continues to innovate and partner with customers as we deliver on our strategy to be a leading global, open access market infrastructure business."
The Group expects to announce its Preliminary results for the period ending 31 December 2015 on 4 March 2016.