The London Stock Exchange Group PLC said trading volumes on its SETS platform have increased over the year to date, but value traded has fallen, particularly in the second half of the year, reflecting a sharp reduction in the value of the FTSE 100 as all trading venues experience very difficult market conditions.
In a trading update covering the 11 months to the end of February 2009, the exchange said it has produced a resilient overall performance and benefits from a sound financial position.
“We continue to trade in line with the board's expectations for the full year,” chief executive Clara Furse said.
In the Issuer Services division, total money raised across the LSE’s markets rose 86 percent to a record £84 billion, however, market activity levels for new issues reflect the difficult market environment.
Average daily number of SETS trades increased 17 percent to 735,000, while average daily value traded at £7.1 billion per day declined 21 percent, in line with the average fall in the FTSE 100. Trading at Borsa Italiana was down 12 percent to 253,000 trades per day.