LSE sees equities traded surge by 12 per cent

City A.M. Reporter
London Stock Exchange said the value of equities traded was up 12 per cent on the year, maintaining market share in its key business, but volumes declined in the second quarter.

The LSE was boosted by its Italian subsidiary Borsa Italiana, which saw traded equities rise by 20 per cent.

Average daily value traded for the five month period was £5bn, but fell to £4.2bn a day in the second quarter to date.

"Actions taken to improve UK equities trading are taking effect, with share of trading resilient in the past few months," said chief executive Xavier Rolet in a statement.

The LSE said its share of total UK cash equities had been broadly stable over the period at 57.6 per cent.

The exchange's alternative trading platform Turquoise was stable over the period with 3.2 per cent market share in Europe but became the largest in so-called dark pool trading.

The LSE became a majority owner of Turquoise in December in an attempt to address a chink in its business model.