Monthly Report - February 2010

- Average daily trading on the international order book almost doubles

The average daily value traded across London Stock Exchange Group’s equity markets during February increased 25 per cent year on year to £7.4 billion (€8.5 billion).  The average daily number of trades was 865,706, one per cent lower than February 2009. 

UK Cash Equities

The average daily value traded on the UK equity order book was £4.4 billion (€5.1 billion), an increase of 10 per cent year on year, while the average daily number of trades was down nine per cent at 566,718.

Italian Cash Equities

The average daily number of trades in Italian equities was 246,227, up 16 per cent on the same month last year. The average daily value traded during the month also grew, reaching €2.7 (£2.3 billion), a 49 per cent increase on last year.

International Cash Equities

During February, the average daily value traded in international stocks on the Group’s equity order books nearly doubled, up 99 per cent year on year, totalling £670 million (€765 million). Meanwhile the average daily number of trades was 52,761, up 35 per cent on last February.

ETFs and ETCs

Trading in ETFs and ETCs during the month was strong, with the average daily number of trades up 60 per cent year on year, totalling 15,609. The average daily value traded was up 38 per cent to £428 million (€489 million).

Derivatives

The average daily number of contracts traded on the Group’s derivatives markets, EDX London and IDEM, was down 24 per cent on February 2009 but up 13 per cent on last month at 302,540. The average daily notional value traded was £2.9 billion (€3.4 billion), 12 per cent lower than the same month last year.
On EDX London, continued growth of the Russian IOB Index saw the highest number of contracts traded since the inception of the service in December 2006 at 18,462. The total number of IOB derivative contracts traded in February was also up 56 per cent on last year to 3,109,415.

Fixed income

Trading on the MTS Cash markets remained strong, with the average daily value traded during the month up by 68 per cent year on year at €10.7 billion (£9.4 billion). On the MTS Repo market, the average term adjusted daily value traded increased by 70 per cent year on year to €207.4 billion (£181.7 billion).
The average daily value traded during February on the Group’s retail bond markets was €1billion (£887 million), in line with same month last year. The average daily number of trades was 10 per cent lower than the same month last year at 15,238.

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For further information, please contact:
Lauren Crawley-Moore +44 (0)20 7797 1222
Anna Mascioni +39 02 72426 212  

Additional Information:

This release uses only electronic trading data; trades that are reported to the either London Stock Exchange or Borsa Italiana under their rules but executed away from their electronic order books are not included.
There were 20 trading days on the London Stock Exchange and on Borsa Italiana during February 2010, the same as the previous year.
During February, the average daily number of trades on SETS – covering all equity based order book trading on the London Stock Exchange – was 603,575 down 7 per cent on February 2009.  The average daily value traded was £5.1 billion, an increase of 15 per cent year on year.
Primary market data for February will be available on the websites of London Stock Exchange and Borsa Italiana later in the month.
The February 2010 value traded figures use a € per £ exchange rate of 1.14. The exchange rate used for February 2009 was 1.12.
January 2010 derivative data has been restated. The average daily number of contracts traded on the Group’s derivatives markets, EDX London and IDEM in January 2010 was down 25 per cent on January 2009, at 267,742, while the average notional value traded was £2.7 billion (€3.1 billion), down 32 per cent.