The London Stock Exchange Group (LSEG) posted a trading update for the third quarter of the year, ended on 30 September 2021. The company reported a strong performance in this quarter.
The strong performance across all divisions drove the total income to increase 7.6% YoY in Q3 and reach £1.69 billion. The gross profit stood at £1.55 billion, marking a 7.3% YoY rise.
Capital Markets revenues was up by 17.2%. This included a FX revenue increase of 7.1% YoY to £56 million. Equities revenue rose 15.4% YoY to £60 million in Q3 and Fixed Income, Derivatives & Other revenues surged 21.1% YoY to £195 million.
LSEG also reported an increase demand for data analytics and post-trade services. Data & Analytics revenue grew 6% and post trade revenue jumped 11.5%. The post trade income reached 218 million for the third quarter, 2.3% higher than the same period the previous year.
The Group has delivered a strong Q3 financial performance with revenue growth across all divisions.
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 capitalise on the growth trends driving change across our industry.”
Independent writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.