LSE Says Technology Services Revenue Up 15%
January 27, 2012
The London Stock Exchange Group said its technology services revenue in its third quarter were up 15 percent, from a year earlier, led by growth in its MillenniumIT business.
The operator of the London and Milan exchanges, as well as the Turquoise dark pool, said its technology services revenue reached 13.1 million British pounds in the quarter ended December 31, 2011. That was up from 11.1 million pounds a year earlier.
For the first nine months, the LSE Group got 37.8 million pounds or 7.8 percent of its 488.9 million pounds in revenue from technology services. That compares to 35.9 million pounds or 8.0 percent of its 451.2 million pounds of overall revenue.
The LSE acquired MillenniumIT in late 2009. Last year, it migrated the trading operations of Turquoise and the London Stock Exchange over to the MillenniumIT technology. Last last year, the Delhi Stock Exchange said it would adopt the platform.
Overall, net income was up 17 percent in the third quarter, to 196.3 million pounds, and up 18 percent for the first nine months, to $582.8 million pounds.
Capital Markets revenues decreased 4 per cent, it said, with growth in annual fee income, derivatives revenues and Italian cash equities trading offset by lower IPO activity and weaker fixed income and UK cash equities trading.
Separately, the LSE said it achieved a round-trip time between client cabinets and its MillenniumIT matching engine at its main City of London data center of under 30 microseconds.
