· Another period of delivery against our targets with continued good growth – Q3 total income up 17% to £486 million; and up 19% for 9 months year-to-date, to £1,432 million
· Q3 revenues up 18% to £443 million; up 18% for 9 months year-to-date at £1,295 million
· Strong demonstration of capital deployment to drive growth and returns, including: completion of the Citi Fixed Income Indices and The Yield Book acquisition; increasing our stake in LCH; and, completion of the £200 million share buyback programme
Q3 summary:
· Information Services: revenues up 22% (up 15% on organic and constant currency basis) – with good underlying growth and one month's inclusion of The Yield Book and Citi Fixed Income Indices
· Post Trade: LCH income up 26% (up 22% at constant currency), with 23% revenue growth in OTC from higher volume of SwapClear client trades; ForexClear continues to see strong volume growth. CC&G and Monte Titoli income up 2% (down 4% at constant currency)
· Capital Markets: revenues up 8% (up 5% on organic and constant currency basis), with record quarterly primary markets revenues in a period of strong equity issuance; Turquoise continues to trade well, with strong growth in the Turquoise Plato Block Discovery service (including a record month in September)
· Technology Services: revenues up 9% (up 7% at constant currency)
Commenting on performance in Q3, Xavier Rolet, Chief Executive, said:
“The Group continues to perform very well, with good revenue growth in our main businesses and a strong period of successful development and delivery. The completion of the acquisition of Citi Fixed Income Indices and The Yield Book is already contributing to the further growth in FTSE Russell while LCH continues to perform strongly and has launched innovative new services. I am also delighted that we are increasing our stake in the LCH Group.
“The Group's excellent financial performance is reflective of our continued innovation and execution of our growth strategy, enabling us to deliver against our three year financial targets. Together with our proven Customer Partnership and Open Access approach, this positions us strongly to benefit from the introduction of MiFID II in less than three months time.”