LSE posts solid results ahead of key LCH vote

The London Stock Exchange reported steady trading results as the market gears up for a crucial shareholder vote next week on its takeover of LCH.Clearnet.

The exchange group said in a regulatory filing the value of share trading was down two per cent for the 11 months to the end of February while Italian equity trading was up two per cent for the same period.

The value of new listings was down 8 percent to £34.6bn as the number of initial public offerings fell 13 per cent to 144 for the period.

The exchange said net treasury income, which is the interest it charges for deposits through its clearing unit, "remained strong" in the first quarter of 2012.

The results came as the LSE faces a crucial shareholder vote on Tuesday on its planned acquisition of London-based clearing house LCH.Clearnet.

The LSE said this month it wants to take up 60 percent of LCH, offering shareholders 20 euros per share, which values LCH at 813m euros (£679.33m).