12 July 2013
London Stock Exchange Group plc
LCH.Clearnet -segmental revenue and non-financial KPI data for 2012; and
LSEG plc - new segmental information for Capital Markets
Following completion of the acquisition of a majority stake in LCH.Clearnet, London Stock Exchange Group plc ("LSEG") will consolidate LCH.Clearnet financial performance in its financial results, with effect from 1 May 2013. In advance of LSEG's Q1 Interim Management Statement, provided below is a quarterly breakout of LCH.Clearnet data for financial year 2012, together with performance for the first calendar quarter of 2013.
As from 1 May 2013, LSEG will report LCH.Clearnet's results in £ sterling.
LCH.Clearnet Revenue/Income
Based on data provided by LCH.Clearnet
Quarter ending |
31 Mar |
30 June |
30 Sep |
31 Dec |
Year |
31 Mar |
€ millions |
2012 |
2012 |
2012 |
2012 |
2012 |
2013 |
OTC |
|
|
|
|
|
|
SwapClear |
13.4 |
14.5 |
15.8 |
16.1 |
59.8 |
21.3 |
ForexClear / CDSClear |
1.0 |
2.8 |
3.3 |
4.7 |
11.8 |
4.6 |
Total OTC |
14.4 |
17.3 |
19.1 |
20.8 |
71.6 |
25.9 |
|
|
|
|
|
|
|
Non-OTC |
|
|
|
|
|
|
Fixed income |
9.9 |
10.0 |
9.5 |
9.5 |
38.9 |
9.5 |
Commodities |
3.4 |
3.4 |
3.7 |
3.9 |
14.4 |
3.6 |
Listed derivatives |
22.1 |
22.2 |
23.4 |
23.1 |
90.8 |
22.4 |
Cash equities |
10.4 |
10.4 |
9.1 |
8.3 |
38.2 |
10.2 |
Total non-OTC |
45.8 |
46.0 |
45.7 |
44.8 |
182.3 |
45.7 |
|
|
|
|
|
|
|
Total clearing fee revenue |
60.2 |
63.3 |
64.8 |
65.6 |
253.9 |
71.6 |
|
|
|
|
|
|
|
Other revenue (including NII non-cash) |
10.6 |
10.8 |
12.4 |
8.6 |
42.4 |
0.3 |
Total revenue |
70.8 |
74.1 |
77.2 |
74.2 |
296.3 |
71.9 |
|
|
|
|
|
|
|
Net treasury income |
30.0 |
22.4 |
22.1 |
20.7 |
95.2 |
19.9 |
Unrealised gain / (loss) |
30.3 |
(0.5) |
8.0 |
(3.1) |
34.7 |
(0.4) |
Total Income including Unrealised |
131.1 |
96.0 |
107.3 |
91.8 |
426.2 |
91.4 |
|
|
|
|
|
|
|
Total Income excluding Unrealised |
100.8 |
96.5 |
99.3 |
94.9 |
391.5 |
91.8 |
|
|
|
|
|
|
|
Average GBP / EUR exchange rate for period |
1.20 |
1.23 |
1.26 |
1.24 |
|
1.17 |
LCH.Clearnet non-Financial KPIs
Based on data provided by LCH.Clearnet
Quarter ending |
|
31 Mar |
30 June |
30 Sep |
31 Dec |
31 Mar |
|
|
|
2012 |
2012 |
2012 |
2012 |
2013 |
|
|
|
|
|
|
|
|
OTC derivatives |
|
|
|
|
|
|
SwapClear |
|
|
|
|
|
|
|
IRS notional outstanding ($trn) |
|
|
287.5 |
305.0 |
329.3 |
339.9 |
370.7 |
IRS notional cleared ($trn) |
|
|
82.5 |
90.2 |
104.0 |
106.1 |
146.7 |
SwapClear members |
|
|
63 |
64 |
67 |
72 |
78 |
CDSClear |
|
|
|
|
|
|
|
Notional cleared (€bn) |
|
|
- |
11.8 |
6.7 |
26.5 |
37.8 |
Open interest (€bn) |
|
|
4.6 |
9.4 |
7.8 |
12.0 |
13.6 |
CDSClear members |
|
|
4 |
9 |
8 |
8 |
8 |
ForexClear |
|
|
|
|
|
|
|
Notional value cleared ($bn) |
|
|
1.1 |
29.1 |
207.3 |
208.5 |
246.3 |
ForexClear members |
|
|
11 |
13 |
13 |
14 |
15 |
Non-OTC |
|
|
|
|
|
|
|
Fixed income - Nominal value (€trn) |
|
|
17.3 |
17.5 |
18.1 |
17.6 |
18.4 |
Commodities (lots m) |
|
|
26.1 |
33.7 |
27.6 |
33.4 |
28.5 |
Listed derivatives (contracts m) |
|
|
61.5 |
50.0 |
51.5 |
46.9 |
49.0 |
Cash equities trades (m) |
|
|
90.5 |
95.5 |
78.2 |
73.4 |
80.7 |
|
|
|
|
|
|
|
|
Average cash collateral (€bn) |
|
|
40.7 |
47.5 |
49.8 |
41.2 |
39.5 |
LSEG plc - new segmental information for Capital Markets
Following changes to the way that the Capital Markets' segment is managed, certain revenues previously classified as "other" (e.g. membership fees and other non-trading fees income) have been allocated to secondary market revenue lines. The aggregate revenues for the Capital Markets segment (and for LSEG plc as a whole) are unchanged. Set out below are the revenues for Capital Markets as disclosed for the financial year ended 31 March 2013, along with disclosure on the basis of the new allocation.
FY 2013 |
Revenues previously reported |
£ millions |
Q1 |
Q2 |
Q3 |
Q4 |
FY 2013 |
|
|
|
|
|
|
Annual Fees |
9.8 |
9.4 |
9.6 |
9.7 |
38.5 |
Admission Fees |
7.9 |
6.6 |
10.5 |
7.3 |
32.3 |
Cash equities UK & Turquoise |
21.1 |
19.0 |
18.3 |
21.6 |
80.0 |
Cash equities Italy |
6.6 |
5.6 |
5.0 |
7.3 |
24.5 |
Derivatives |
3.6 |
3.2 |
3.0 |
3.6 |
13.4 |
Fixed Income |
8.1 |
7.8 |
8.6 |
10.0 |
34.5 |
Other |
10.4 |
10.6 |
11.3 |
12.0 |
44.3 |
Capital Markets |
67.5 |
62.2 |
66.3 |
71.5 |
267.5 |
|
|
|
|
|
|
|
Restated revenues |
£ millions |
Q1 |
Q2 |
Q3 |
Q4 |
FY 2013 |
|
|
|
|
|
|
Annual Fees |
9.8 |
9.4 |
9.6 |
9.7 |
38.5 |
Admission Fees |
7.9 |
6.6 |
10.5 |
7.3 |
32.3 |
Cash equities UK & Turquoise |
22.4 |
20.5 |
19.8 |
23.3 |
86.0 |
Cash equities Italy |
8.8 |
7.5 |
7.0 |
9.4 |
32.7 |
Derivatives |
5.0 |
4.6 |
4.6 |
4.9 |
19.1 |
Fixed Income |
12.1 |
11.9 |
13.0 |
14.8 |
51.8 |
Other |
1.5 |
1.7 |
1.8 |
2.1 |
7.1 |
Capital Markets |
67.5 |
62.2 |
66.3 |
71.5 |
267.5 |
Further information is available from:
London Stock Exchange Group plc |
Victoria Brough - Media Paul Froud - Investor Relations Tom Woodley - Investor Relations |
+44 (0) 20 7797 1222 +44 (0) 20 7797 3322 +44 (0) 20 7797 3322 |
