LSE sees IPOs jump 90 per cent

A 90 per cent increase in new share issues year-on-year and a double-digit increase in derivative trading volumes have boosted the London Stock Exchange in the 11 months to February, it said today.

The LSE said 167 new listings had raised £9.8bn in new equity capital in the period while in the year to date total share capital raised from existing and new clients was £36.4bn.

UK daily trading activity was up two per cent to £4.7bn and has continued to rise this year to £5bn in March, it said in a trading update.

And despite initial glitches, its Millennium Exchange trading system installed in February is running its platform ten times faster than its predecessor.

The 12 per cent rise in derivatives trading, 13 per cent rise in value traded in its cash fixed income market and 55 per cent hike in value traded in its repo market have all underlined the importance of its plan to move more aggressively into derivatives trading and clearing.

The LSE said its UK market share remained steady at 63.4per cent for the period.

And it said trading on Turquoise was “encouraging”, with lit trades running at €1.1bn (£967m) average daily value traded while dark trades ran at €183m per day.