LSE trading volumes begin to fall away

City A.M. Reporter
THE LONDON Stock Exchange yesterday said in a trading update it had maintained market share in its key UK business over the first half, with the value of equities traded up 12 per cent, though volumes declined in the second quarter.

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

The exchange said it had identified lower fees at its main clearing services provider LCH.Clearnet and a trading system upgrade over the next week as key to boosting trading activity in the future.

“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.

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 European market share.