The London Stock Exchange Group (LSEG) has published its trading statement for the first quarter of 2020 this Tuesday, revealing an increase in income and revenues on a yearly comparison.
For the three months ended March 31, 2020, LSEG posted a total income for the first quarter of £615 million, which is an increase of 13 per cent from the same period of the previous year.
According to the stock exchange Group, this was driven by an increase in equity trading in Capital Markets, as well as higher clearing activity across listed and over the counter (OTC) products.
Total revenue for LSEG came in at £535 million for the first three months of 2020. When measuring this against the first quarter of 2019, which had total revenue of £486 million, revenues have increased by 10 per cent year-on-year.
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LSEG receives approval from CFIUS
In addition to reporting solid income and revenues for the first quarter, the British-based company said in the statement that the integration planning for the acquisition of Refinitiv is progressing well, having secured approval from the Committee on Foreign Investment in the United States (CFIUS).
The company has also prepared anti-trust filings in multiple jurisdictions, the company said, as it remains committed to completing the acquisition in the second half of this year.
Commenting on the results, David Schwimmer, the CEO of LSEG said in the statement: “The Group has delivered a good financial performance and strong operational resilience during this unprecedented period. We have had a focus on ensuring orderly functioning of markets and continuity of service to customers across our businesses.”
“A key priority has been the health and wellbeing of our employees around the world. The vast majority of our colleagues are working remotely as a key element of our business continuity measures. I’ve been impressed by their adaptability, resiliency and commitment to continue to support our customers. Although market conditions are likely to remain challenging in the coming period, we believe the Group is financially strong and has the necessary resources to continue to operate effectively in this environment.”