The London Stock Exchange Group (LSEG) has achieved what it describes as “strong H1 performance”, which it attributes to post trade and data and analytics. In its announcement of its H1 financial results, the firm states that it is now expecting the year’s revenue growth to be on the upper end of its guidance of six to eight percent.
The firm’s total income grew by eight percent YoY to reach £4 billion. Post trade contributed £590 million in revenue, a 19 percent YoY increase compared to last year’s £483 million. LSEG credits this growth to SwapClear, its OTC derivatives service, which saw strong demand due to current interest rate uncertainty.
The data and analytics business was also a big contributor, growing by 7.6 percent to £2.6 billion. According to CEO David Schwimmer, this is a faster growth than the unit has seen for many years. CFO Anna Manz, explained during the results call that this was due to higher pricing, improved retention, and stronger sales. Refinitiv, the data and analytics provider that LSEG acquired in 2021, boosted annual subscription value (ASV) by 6.9 percent, 400 basis points higher than before its acquisition.
