Revenues up 19% for London Stock Exchange

11 July 2007

The London Stock Exchange (LSE) has announced that first-quarter revenues to the end of June hit $203 million - representing a 19 per cent rise compared with the year ago period.

The record revenues are attributed by the bourse to improved trading volumes and similarly strong initial public offering activities.

Statistics show that the average number of trades enacted daily on its SETS electronic order book was up 51 per cent to 501,000.

Meanwhile, the average value of stocks traded stood at $17 billion - a 27 per cent rise compared with the same period last year.

LSE chief executive Clara Furse said: "This very strong first quarter performance underlines our confidence in an excellent outcome for the full year."

News of the bourse's performance comes after it last month announced it is to take over Borsa Italiana.

It is anticipated that the merger will result in synergies-related savings totalling $80 million.

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