London Stock Exchange increases income 13 per cent in first quarter
A London financial institution has reported a 13 per cent increase in income for the first quarter of 2020.
London Stock Exchange (LSE), saw income of £615m, which it says has been driven by increased equity trading in capital markets.
It reported that capital markets income was up by 15 per cent, hitting £112m, up from approximately £97m the previous year.
It also noted a 7 per cent increase in information services revenue up to £215m, driven by growth in subscription and asset based revenue.
David Schwimmer, CEO of LSE, commented: “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.”
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