Monthly Report - September 2009

During September, there was month on month growth in trading activity on London Stock Exchange Group’s equity, derivatives and fixed income markets. The average daily value traded on the Group’s equity markets during September increased 27 per cent on August to £7.9 billion (€8.9 billion), while the average daily number of contracts traded on the Group’s derivatives markets and the average daily value traded on the MTS Cash markets were up 59 per cent and 52 per cent on August respectively.  Year on year comparisons were impacted by significant volatility in September 2008, with value traded in equities down 43 per cent.  Nevertheless, derivatives trading remained stable and fixed income, both MOT and MTS, showed strong year on year growth.

UK Cash Equities

The average daily value traded on the UK order book during September was £4.0 billion (€4.4 billion), up by ten per cent month on month following the introduction of a new, simplified fee structure on the UK order book, though down by 55 per cent year on year. The total value traded was £87.2 billion (€97.8 billion). The average daily number of trades increased by one per cent compared with the average for August, but decreased by 40 per cent year on year to 534,450.  The total number of UK equity trades during the month was 11.8 million.  

Italian Cash Equities

On the Italian equity order book the average daily value traded in September was ahead of the average for August by 46 per cent, though it was down 26 per cent year on year at €3.7 billion (£3.3 billion).  The total value traded during the month was €81.4 billion (£72.6 billion). There was a ten per cent month on month increase in the average daily number of trades in Italian equities, with 238,021 trades per day. This was 17 per cent lower than September 2008.  The total number of trades during the month was 5.2 million.

International Cash Equities

The average daily value traded on the Group’s international equity order books was £650 million (€729 million), a decrease of 36 per cent on the same month last year, but up 43 per cent on August.  The average daily number of trades was 53,134, a decline of eight per cent year on year.

ETFs and ETCs

Trading in ETFs and ETCs was strong, with the average daily number of trades more than doubling, up by 105 per cent year on year to 14,412.  The average daily value traded was up by 25 per cent to £372 million (€418 million).

Derivatives

The average daily number of contracts traded on the Group’s derivatives markets, EDX London and IDEM, was up 59 per cent on August, and stable compared to the previous September at 495,201.  The average daily notional value traded was £5.0 billion (€5.6 billion), 29 per cent lower than the same month last year. EDX London achieved a strong performance during September, recording its second busiest month ever, with 6.5 million contracts traded across its Russian and Scandinavian products, including a record 4.2 million Russian stock options.  Trading in the FTSE Russia IOB Index grew for the third consecutive month, with 3,871 contracts traded, making September the busiest month since May 2007.

Fixed income

MOT, Borsa Italiana’s retail fixed income market, recorded a 20 per cent year on year growth in total value traded at €17.8 billion (£15.9 billion). The total number of trades during the month was 271,794, up three per cent on last year. Trading on the MTS Cash markets remained strong, with the average daily value traded up by 46 per cent year on year at €10.5 billion (£9.4 billion), while on the MTS Repo market, the average term adjusted daily value traded increased by 77 per cent year on year to €185.7 billion (£165.5 billion).

For further information, please contact:

Luca Grassis +39 02 72426 212

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