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Time: 17:17

Bid	935.00
Ask	936.50
Price	935.75
Previous	938.50
Change	-2 (-0.21%)
Last Trade	936.50 (16:35:14)
Trading Vol.	328,240
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Today's Low	926.65

52 Wk Low	751.00
52 Wk Low	(15/12/2011)
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52 Wk High	(08/07/2011)
52 Wk Change	+54.50
52 Wk Change	(+6.17%)
4 Wk Volume	9,202,192
ISIN Number	GB00B0SWJX34
Currency	GBX

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Tue 12:54

LondonStockExGroup - Market Report January 2012

RNS

RNS Number : 9594W

London Stock Exchange Group PLC

07 February 2012

ETR - 52

MONTHLY MARKET REPORT - January 2012

London Stock Exchange Group (LSE.L) sits at the heart of the world's financial community, offering international business unrivalled access to Europe's capital markets. In January a total of 30.1 million trades were carried out across the Group's electronic equity order books with a combined value of £159.4 billion (€191.5 billion), down 17 per cent on January 2011 (£191.6 billion).

UK Equities Order Book

During the month, the average daily value traded on the UK order book was £4.0 billion (€4.8 billion), down 18 per cent on January 2011, in line with average European total value traded year on year. The average daily number of trades increased five per cent to 660,742.

The LSE's share of trading in the total UK order book for January was 60.0 per cent.

Italian Equities Order Book

On the Italian order book, the average daily number of trades was 267,901, down 22 per cent on the same month last year, whilst the average daily value traded on the order book decreased 37 per cent year on year to €2.4 billion (£2.0 billion).

Turquoise Cash Equities

The average daily value traded on the Turquoise integrated book in January was €1.6 billion (£1.3 billion) up 29 per cent on the same month last year. The average daily number of trades was up 78 per cent at 450,285.

On the Turquoise dark mid-point book, the average daily value traded was €125 million (£104 million), down 48 per cent on January 2011. There was an average daily total of 21,183 trades, a decrease of 29 per cent year on year.

Turquoise share of pan-European trading for January was 5.2 per cent.

Derivatives

On the Group's derivatives platforms, the total number of contracts traded was 6,781,671, up 26 per cent compared with January 2011.

Exchange Traded Products

Total value traded in Exchange Traded Products across the Group's order books in January was down 18 per cent year on year to £8.9 billion (€10.8 billion). The total number of trades was also down 22 per cent at 345,909.

Fixed income

The average daily value traded on the MTS Cash markets during the month was down 38 per cent year on year at €8.3 billion (£6.9 billion). On the MTS Repo market, the average term adjusted daily value was down 30 per cent year on year at €208.5 billion (£173.5 billion).

The average daily value traded on the Group's retail bond markets was €1.2 billion (£972 million), up 44 per cent on the same month last year. The average daily number of trades was up 41 per cent at 23,345.

- ends -

For further information, please contact:

Lauren Crawley-Moore +44 (0)20 7797 1222

Anna Mascioni (Borsa Italiana) +39 027 2426 212

newsroom@londonstockexchange.com

Additional Information:

This release uses only electronic trading data; trades that are reported to the either London Stock Exchange or Borsa Italiana under their rules but executed away from their electronic order books are not included.

Figures for the UK and Italian order books include cash equity trades in domestic and international equities, Exchange traded products and Securitised Derivatives.

There were 21 trading days on the London Stock Exchange in January 2012 compared with 20 in January 2011, and 22 trading days on Borsa Italiana in January 2012, compared with 21 in January 2011

The January 2012 value traded figures use a € per £ exchange rate of 1.20. The exchange rate used for January 2011 was 1.18.

About London Stock Exchange Group:

London Stock Exchange Group (LSE.L) sits at the heart of the world's financial community. The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and Turquoise, offering UK and Russian derivatives trading, pan-European and US lit and dark equity trading. Through its markets, the Group offers international business unrivalled access to Europe's capital markets.

The Group is a leading developer of high performance trading platforms and capital markets software and also offers its customers around the world access and an extensive range of real-time and reference data products and market-leading post-trade services. The Group is also home to a world leading index provider FTSE, which creates and manages of over 200,000 equity, bond and alternative asset class indices.

Headquartered in London, United Kingdom with significant operations in Italy and Sri Lanka, the Group employs around 1,850 people.

Further information on London Stock Exchange Group can be found at www.londonstockexchangegroup.com

BORSA ITALIANA - LONDON STOCK EXCHANGE ELECTRONIC ORDER BOOK TRADING

	January-12			January-11

	Trades	Value Traded		Trades	Value Traded
Totals		£m	€m		£m	€m

UK order book	13,875,573	84,377	101,403	12,549,920	98,109	115,815
Italian order book	5,893,830	43,755	52,584	7,163,992	67,421	79,589
Derivatives	6,781,671	37,001	44,467	5,362,418	60,241	71,113
Retail Bonds	513,573	21,387	25,702	347,577	14,471	17,083
MTS Cash	34,753	151,569	182,152	47,770	238,371	281,391
MTS Repo	61,679	3,816,897	4,587,055	58,070	5,336,606	6,299,726
Turquoise Integrated	9,906,278	28,939	34,778	5,300,204	21,870	25,817
Turquoise MidPoint	466,028	2,284	2,745	627,790	4,232	4,996

Average Daily

UK order book	660,742	4,018	4,829	627,496	4,905	5,791
Italian order book	267,901	1,989	2,390	341,142	3,211	3,790
Derivatives	316,552	1,690	2,031	255,354	2,869	3,386
Retail Bonds	23,345	972	1,168	16,551	689	813
MTS Cash	1,580	6,890	8,280	2,275	11,351	13,400
MTS Repo	2,804	173,495	208,502	2,765	254,124	299,987
Turquoise Integrated	450,285	1,315	1,581	252,391	1,041	1,229
Turquoise MidPoint	21,183	104	125	29,895	202	238


	2012 Year to date			2011 Year to Date

	Trades	Value Traded		Trades	Value Traded
Totals		£m	€m		£m	€m

UK order book	13,875,573	84,377	101,403	12,549,920	98,109	115,815
Italian order book	5,893,830	43,755	52,584	7,163,992	67,421	79,589
Derivatives	6,781,671	37,001	44,467	5,362,418	60,241	71,113
Retail Bonds	513,573	21,387	25,702	347,577	14,471	17,083
MTS Cash	34,753	151,569	182,152	47,770	238,371	281,391
MTS Repo	61,679	3,816,897	4,587,055	58,070	5,336,606	6,299,726
Turquoise Integrated	9,906,278	28,939	34,778	5,300,204	21,870	25,817
Turquoise MidPoint	466,028	2,284	2,745	627,790	4,232	4,996

Average Daily

UK order book	660,742	4,018	4,829	627,496	4,905	5,791
Italian order book	267,901	1,989	2,390	341,142	3,211	3,790
Derivatives	316,552	1,690	2,031	255,353	2,869	3,386
Retail Bonds	23,345	972	1,168	16,551	689	813
MTS Cash	1,580	6,890	8,280	2,275	11,351	13,400
MTS Repo	2,804	173,495	208,502	2,765	254,124	299,987
Turquoise Integrated	450,285	1,315	1,581	252,391	1,041	1,229
Turquoise MidPoint	21,183	104	125	29,895	202	238

Figures for the UK and Italian order books include cash equity trades in domestic and international equities, Exchange traded products and Securitised Derivatives. For Derivatives, the values used are notional values while "trades" refer to contracts traded. Value traded figures for MTS Repo are term-adjusted, and totals for MTS Cash include BondVision.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCLLFEFFIIDIIF

Tue 10:17

LondonStockExGroup - MTS and Newedge launch new ACM platform

RNS

RNS Number : 9355W

London Stock Exchange Group PLC

07 February 2012

MTS and Newedge launch Agency Cash Management (ACM) platform for tri-party repo market

- Transparent, electronic platform offers investors access to low-risk, secured money market investments

- Offers benefits of tri-party repo to the buy-side and delivers new pools of liquidity to the sell-side

- Provides access to wholesale pricing with cash placed via daily cash auctions

London, 7 February 2012: MTS, Europe's premier facilitator for the European fixed income trading market, has launched its Agency Cash Management (ACM) platform, a new electronic auction facility for the tri-party repo market. The platform, which has already registered its first trades, has been launched in association with Newedge, a global leader in multi-asset brokerage.

The ACM platform enables investors to enter into secured money market investments using the tri-party repo mechanism*. It has been launched in response to increasing demand from institutions for an innovative solution to the cash management challenges currently being faced by both the buy- and sell-side. The platform uses the same technology that facilitates the MTS fixed income trading market, combining secure investment opportunities with the high levels of transparency offered by electronic trading.

Under a repurchase agreement, also known as a repo or sale and repurchase agreement, investors lend cash for a short period of time to another party. Financial securities are used as collateral for the loan, together with an agreement for the seller to buy back the security at a pre-agreed rate of interest and an agreed term.

The ACM platform creates an alternative to the traditional suite of unsecured money market products, and offers access to low-risk secured investment opportunities for buy-side institutions such as corporates, asset managers, bank treasurers, sovereign wealth funds, pension funds, securities lenders, insurance companies, banks and hedge funds.

By bringing a new pool of cash providers to the market, the platform will also benefit banks facing continued pressure to diversify their sources of funding in the face of new regulations planned under Basel III.

The ACM platform allows investors to select acceptable counterparties, rating of collateral, currencies and trade duration. Collateral is held in a segregated account in the investor's name at an established tri-party agent, typically a highly-rated custodian bank, and is subject to transfer of ownership that can be sold on demand if the counterparty defaults.

Oliver Clark, Money Market Product Manager at MTS, said:

"The successful launch of our new Agency Cash Management platform addresses the demand for an innovative cash management solution for both banks and buy-side investors. ACM introduces the tri-party repo mechanism to a new group of participants in the form of corporates, hedge funds and securities lenders in a competitive, electronic auction platform. The cash providers benefit from the security of tri-party repo in place of unsecured money market products and their counterparty banks with an alternative source of funding."

Angela Osborne and Ulf Bacher, Co-Heads of the Agency Cash Management business at Newedge, added:

"The new ACM platform has opened one of the biggest money market products to a new audience that will ensure best execution for cash investments via our auction methodology.

"Newedge is delighted to be working with MTS on this initiative. Our partnership brings together market experience and best-in-class technology to offer the benefits of tri-party repo to the buy-side whilst delivering new pools of liquidity to the sell-side."

The ACM operates as a Multilateral Trading Facility (as defined under MiFID regulation and FSA supervision) by EuroMTS Limited.

- ends -

For further information please contact:

MTS press contacts

Media Relations:

Lucie Holloway

+ 44 (0) 20 7797 1222

MTS contacts

Oliver Clark

+44 (0)20 7797 4063

Notes to editors:

* Repo and Tri-Party Repo

A repurchase agreement, also known as a repo or sale and repurchase agreement, allows an investor to borrow cash for a short period of time from another party using financial securities as collateral for the loan, together with an agreement for the seller to buy back the security at a pre-agreed rate of interest and an agreed term. A repo can be conducted via the tri-party repo mechanism in which the settlement process is administered by an independent third party known as a tri-party agent. The agent, usually a highly-rated Custodian bank, ensures both the cash and collateral are exchanged within a legal framework that recognises full transfer of title.

About MTS:

MTS is Europe's premier facilitator for the electronic fixed income trading market, with over 500 unique counterparties and average daily volumes exceeding EUR 85 billion. MTS customers benefit from its relationship with Europe's leading diversified exchange business, the London Stock Exchange Group, which operates the largest and most liquid equity marketplace in Europe.

MTS markets provide the professional trading environment for the interdealer marketplace, enabling primary dealers from across the globe to access unparalleled liquidity, transparency and coverage.

The MTS Repo platform delivers an order driven market for the electronic transaction of repo agreements and buy/sellbacks. ACM is an electronic auction-trading platform that uses the MTS Repo technology to enable cash-rich investors to enter into secured money market investments via the tri-party repo mechanism.

MTS further facilitates the dealer-to-client bond market through BondVision, the most trusted and efficient electronic bond trading market, delivering exceptional access for institutional investors direct to the market makers, while MTS Credit delivers an electronic market for a wide range of euro-denominated non-government bonds.

MTS Data is sourced directly and exclusively from the MTS interdealer market and includes benchmark real-time data, reference data, reference prices, time series data and snap-shot data, providing the benchmark data source on the fixed income market.

MTS Indices provide the first independent, transparent, real-time and tradable eurozone fixed income indices, based on tradable prices from MTS. MTS indices are tracked by (and can be traded via) 30 ETFs in addition to numerous structured products.

www.mtsmarkets.com

About London Stock Exchange Group:

Headquartered in London, United Kingdom with significant operations in Italy and Sri Lanka, the Group employs around 1,850 people.

Further information on London Stock Exchange Group can be found at www.londonstockexchangegroup.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

NRAMMGGZGNKGZZM

Fri 15:37

LondonStockExGroup - Holding(s) in Company

RNS

RNS Number : 7999W

London Stock Exchange Group PLC

03 February 2012

For filings with the FSA include the annex
For filings with issuer exclude the annex

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESⁱ

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ⁱⁱ		London Stock Exchange Group Plc
2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights			ü
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify):
3. Full name of person(s) subject to the notification obligation: ⁱⁱⁱ	FIL Limited
4. Full name of shareholder(s) (if different from 3.):^iv	See attached schedule
5. Date of the transaction and date on which the threshold is crossed or reached: ^v	07 November 2011
6. Date on which issuer notified:	02 February 2012
7. Threshold(s) that is/are crossed or reached: ^{vi, vii}	5%

8. Notified details:

A: Voting rights attached to shares ^{viii, ix}

Class/type of
shares

if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of voting rights ^x

Indirect

Direct ^xi

Indirect ^xii

Direct

Indirect

GB00B0SWJX34

13,541,634

13,580,896

5.00

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date ^xiii

Exercise/
Conversion Period ^xiv

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of voting
rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments ^{xv, xvi}

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration date ^xvii

Exercise/
Conversion period ^xviii

Number of voting rights instrument refers to

% of voting rights ^{xix, xx}

Contracts For Difference

51,495

Nominal

Delta

0.02

Total (A+B+C)

Number of voting rights

Percentage of voting rights

13,632,391

5.02

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: ^xxi
See attached schedule

Proxy Voting:
10. Name of the proxy holder:		FIL Limited
11. Number of voting rights proxy holder will acquire:		39,262
12. Date on which proxy holder will acquire voting rights:		07 November 2011

13. Additional information:	None
14. Contact name:	Philip Alexander +44 1737 834624
15. Contact telephone number:	fil-regreporting@fil.com

FIL
Issuer name:	LONDON STOCK EXCHANGE GROUP PLC
Current ownership percentage:	5.02%
Total shares held:	13,632,391
Issued share capital:	271,108,651
	SHARES HELD	NOMINEE	MANAGEMENT COMPANY

FIL Limited (FIL) is the parent	142,470	BERMUDA TRUST FAR EAST HK	FIMHK
holding company for various direct and indirect	4,328,223	BROWN BROS HARRIMN LTD LUX	FIL
subsidiaries, including FIL Fund Management	28,300	BROWN BROTHERS HARRIMAN AND CO	FIJ
Limited (FFML), FIL Investment Services Ltd	783,111	JP MORGAN, BOURNEMOUTH	FII
(FISL), FIL Gestion (FIGEST), FIL	1,433,800	JP MORGAN, BOURNEMOUTH	FIL
Asset Management (Korea) Limited (FIAKL),	6,256,163	JP MORGAN, BOURNEMOUTH	FISL
FIL Investments Management (Hong Kong)	38,800	MASTER TRUST BANK OF JAPAN	FIJ
Limited (FIMHK), FIL Pension Management	29,900	NORTHERN TRUST CO	FIL
(FPM), Fidelity Investments Japan (FIJ) and FIL	179,562	BROWN BROS HARRIMN LTD LUX (C)	FIL
Investments International (FII), investment managers	260,827	JP MORGAN, BOURNEMOUTH (C)	FIL
for various non-US investment companies and	46,300	NOMURA TRUST AND BANKING (C)	FIJ
institutional clients.	8,400	MASTER TRUST BANK OF JAPAN (C)	FIJ
	93,291	JP MORGAN, BOUREMOUTH (C)	FIL
	3,244	BROWN BROTHERS HARRIMN LTD LUX (C)	FIL

This information is provided by RNS

The company news service from the London Stock Exchange

END

HOLEASADEDLAEFF

27-01-12

LondonStockExGroup - Interim Management Statement

RNS

RNS Number : 2715W

London Stock Exchange Group PLC

27 January 2012

LONDON STOCK EXCHANGE GROUP plc

INTERIM MANAGEMENT STATEMENT

FOR THE PERIOD TO 26 JANUARY 2012, INCLUDING REVENUES AND KPIs FOR THE THREE MONTHS ENDED 31 DECEMBER 2011 (Q3)

· Continued strong operational and financial performance in Q3

· Total income up 17 per cent on Q3 last year at £196.3 million (up 13 per cent on organic constant currency basis); 9 months year-to-date up 19 per cent, to £582.8m (up 18 per cent on organic constant currency basis)

· Post Trade Services total income increased 50 per cent, driven by further sequential (over Q2) growth in treasury management income from clearing operations

· Capital Markets revenues decreased 4 per cent 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

· Information Services revenues rose 24 per cent in total, reflecting operational growth and the initial benefits of the FTSE acquisition which includes adjustment to royalties previously recognised 3 months in arrears; organic growth was good at 4 per cent, with increases in both real time data income and revenue from other information products

· Technology Services revenues up 15 per cent, mostly driven by growth from MillenniumIT

· Acquired the outstanding 50 per cent of FTSE, giving the Group full control of this strategically important, high growth global indices business - FTSE EBITDA for the year ended 31 December 2011 grew 34 per cent to £53.6 million

· Exclusive discussions with LCH.Clearnet and broader related stakeholder engagement continue

Commenting on performance in the past quarter, Xavier Rolet, Chief Executive, said:

"This has been another good quarter, with strong momentum and top line growth of 17 per cent. As well as a very positive organic performance, we successfully completed our acquisition of FTSE. The new opportunities that come with full control of this high quality, fast-growing international business are significant, and we look forward to developing these with our customers.

"Our diversification strategy continues to pay dividends and the breadth and balance of our offering gives our portfolio a good element of natural hedge, making us well-placed to drive the ongoing performance of the Group. We remain firmly committed to enhancing the Group's competitiveness, focusing on our customers and to developing our wide range of products and services."

Financial Position

During Q3 there was a net outflow of cash, including £428 million for the acquisition of the 50 per cent of FTSE International Limited that the Group did not own, £53 million (€62 million) for the purchase of a 13.6 per cent stake in CC&G from Unicredit S.p.A and £15 million for acquisition of the FSA's transaction reporting service, TRS.

At the end of December 2011, Group net debt had increased to £582 million (or £747 million after setting aside the cash held for regulatory and operational support purposes). As reported at the time of the FTSE transaction, the pro forma leverage of the Group has increased to 1.6 times net debt:adjusted EBITDA, based on EBITDA to 30 September 2011 and on a pro forma basis to include 12 months FTSE EBITDA. We expect that our positive net cash generation will start to reduce our leverage.

To underpin the Group's financial flexibility in connection with our ongoing discussions with LCH.Clearnet, a new £350 million committed revolving credit facility was signed on 15 December 2011. This facility expires if these discussions are terminated.

Although there was little change to the euro:sterling rate in Q3 compared with the equivalent period last year, the euro has weakened in recent weeks. To illustrate our exposure to movements in this exchange rate, a €0.05 decrease in the average euro:sterling rate would have resulted in a reduction to total income of c£4.3 million for Q3.

FTSE International Limited

Financial results (unaudited) for FTSE International Limited, for the 12 months ended 31 December 2011, confirm a continuation of strong growth. Revenue increased 21 per cent to £119.1 million and EBITDA grew 34 per cent to £53.6 million.

Current trading and Outlook

The Group is well positioned and continues to make progress in executing its stated strategy to 'get in shape, leverage assets, and seek opportunities'. The Board expects continuing good overall Group performance during the final quarter of the financial year, reflecting the resilience of the business and strength of the portfolio's offering.

However, the Group is not immune to the current weak market conditions. The fourth quarter has started with subdued secondary market trading, with average daily value traded in UK cash equities down 3 per cent on Q3 although volume traded in Italian cash equities is up 4 per cent on Q3. MTS fixed income trading and IDEM derivative volumes are down on average daily levels in the prior quarter. Information Services, Technology Services and Post Trade Services are all performing well, with net treasury income unaffected by slowing trading levels so far in January.

The Board remains committed to delivering growth through leveraging the many assets within the business, whilst maintaining focus on improving competitiveness, cost management and efficiency.

Further information is available from:

London Stock Exchange Group plc

Victoria Brough - Media

Paul Froud - Investor Relations

+44 (0) 20 7797 1222

+44 (0) 20 7797 3322

Citigate Dewe Rogerson

Patrick Donovan/Grant Ringshaw

+44 (0) 20 7638 9571

Q3 Revenue Summary

Revenues for three months and nine months ended 31 December 2011, with comparatives against performance for the same period last year. Growth rates for both Q3 and year to date performance are also expressed on a constant currency basis. All figures are unaudited.

				Organic and				Organic and
	Three months ended			constant	Nine months ended			constant
	31 December			currency	31 December			currency
	2011	2010	Variance	variance¹	2011	2010	Variance	variance¹
	£m	£m	%	%	£m	£m	%	%
Revenue
Capital Markets	68.9	71.5	(4%)	(4%)	228.7	213.0	7%	6%
Post Trade Services	24.5	23.9	3%	11%	76.9	72.2	7%	13%
Information Services	52.8	42.5	24%	4%	141.9	126.6	12%	4%
Technology Services	13.1	11.4	15%	15%	37.8	35.9	5%	6%
Other	1.5	1.3	15%	15%	3.6	3.5	3%	0%
Total revenue	160.8	150.6	7%	2%	488.9	451.2	8%	7%
Net treasury income through CCP business	33.5	14.8	126%	126%	87.8	31.6	178%	171%
Other income	2.0	2.0	0%	0%	6.1	5.8	5%	5%
Total income	196.3	167.4	17%	13%	582.8	488.6	19%	18%

Share of profit of JVs and associates²	3.5	0.9			5.9	2.5

Organic Excluding FTSE additional royalty, revenue, TRS & Servizio Titoli
Total revenue	152.0	148.7	2%	2%	480.1	445.2	8%	7%
Total income	187.5	165.5	13%	13%	574.0	482.6	19%	18%

¹Exchange rates for the relevant period are detailed at the end of this section
Adjustments to calculate organic growth:

1) Removal of Servizio Titoli revenue last year (Post Trade)

2) Removal of FTSE revenue and additional royalties from current year (Information)

3) Removal of TRS revenue from current year (Information)

²JV share of profits includes £2.3m to align the reporting of FTSE profit share previously accounted for 3 months in arrears

More detailed revenues by segment are provided in tables below:

Capital Markets

	Three months ended			Variance at	Nine months ended			Variance at
	31 December			constant	31 December			constant
	2011	2010	Variance	currency	2011	2010	Variance	currency
Revenue	£m	£m	%	%	£m	£m	%	%
Primary Markets
Annual fees	10.0	9.6	4%	4%	30.0	28.3	6%	5%
Admission fees	7.1	9.5	(25%)	(25%)	27.5	24.8	11%	11%
	17.1	19.1	(10%)	(10%)	57.5	53.1	8%	8%
Secondary Markets
Cash equities UK & Turquoise	21.1	21.6	(2%)	(2%)	73.3	70.2	4%	4%
Cash equities Italy	7.2	6.8	6%	6%	23.4	21.5	9%	6%
Derivatives	3.9	3.8	3%	3%	12.8	12.2	5%	2%
Fixed income	8.0	8.3	(4%)	(4%)	26.7	22.9	17%	14%
	40.2	40.5	(1%)	(1%)	136.2	126.8	7%	6%
Other	11.6	11.9	(3%)	(2%)	35.0	33.1	6%	3%
Total revenue	68.9	71.5	(4%)	(4%)	228.7	213.0	7%	6%

Post Trade Services

	Three months ended			Variance at	Nine months ended			Variance at
	31 December			constant	31 December			constant
	2011	2010	Variance	currency	2011	2010	Variance	currency
	£m	£m	%	%	£m	£m	%	%
Revenue
Clearing	10.2	8.4	21%	21%	31.7	25.2	26%	22%
Settlement	4.3	4.5	(4%)	(4%)	14.1	13.4	5%	2%
Custody & other	10.0	11.0	(9%)	(9%)	31.1	33.6	(7%)	(9%)
Total revenue	24.5	23.9	3%	3%	76.9	72.2	7%	4%
Net treasury income through CCP business	33.5	14.8	126%	126%	87.8	31.6	178%	171%
Total income	58.0	38.7	50%	50%	164.7	103.8	59%	55%
Excluding Servizio Titoli (disposed with effect from 1 April 2011):
Custody & other	10.0	9.1	10%	10%	31.1	27.6	13%	10%
Total revenue	24.5	22.0	11%	11%	76.9	66.2	16%	13%
Total income	58.0	36.8	58%	58%	164.7	97.8	68%	64%

Information Services

	Three months ended			Variance at	Nine months ended			Variance at
	31 December			constant	31 December			constant
	2011	2010	Variance	currency	2011	2010	Variance	currency
	£m	£m	%	%	£m	£m	%	%
Revenue
Real time data	25.4	24.4	4%	4%	75.6	72.6	4%	3%
Other information services	16.3	15.2	7%	7%	48.6	45.8	6%	6%
FTSE royalties	6.4	2.9			13.0	8.2
FTSE revenue	4.7	0.0			4.7	0.0
Total revenue	52.8	42.5	24%	24%	141.9	126.6	12%	11%
Total revenue excluding FTSE additional royalties & revenue & TRS revenue	44.0	42.5	4%	4%	133.1	126.6	5%	4%

Note:

FTSE royalties includes £3.5m to align the reporting of FTSE royalties and profit share previously accounted for 3 months in arrear. FTSE revenue reflects completion of acquisition from 16^th December 2011.

Technology Services

	Three months ended			Variance at	Nine months ended			Variance at
	31 December			constant	31 December			constant
	2011	2010	Variance	currency	2011	2010	Variance	currency
	£m	£m	%	%	£m	£m	%	%
Revenue
MillenniumIT	5.5	4.1	34%	34%	15.0	13.1	15%	16%
Technology	7.6	7.3	4%	4%	22.8	22.8	0%	(0%)
Total revenue	13.1	11.4	15%	15%	37.8	35.9	5%	6%

Basis of Preparation

Results for Borsa Italiana for the periods ended 31 December 2011 have been translated into Sterling using the average monthly exchange rate for the period of €1.166: £1. Constant currency growth rates have been calculated by translating prior period results at the average exchange rate for the current period.

Average €:£ rate 3 months ended 31 December 2011	Closing €:£ rate at 31 December 2011	Average €:£ rate 9 months ended 31 December 2011	Average €:£ rate 3 months ended 31 December 2010	Closing €:£ rate at 31 December 2010	Average €:£ rate 9 months ended 31 December 2010

€1.166	€1.197	€1.146	€1.163	€1.162	€1.179

Appendix

Capital Markets - Primary Markets
	Three months ended			Nine months ended
	31 December		Variance	31 December		Variance
	2011	2010	%	2011	2010	%
New Issues
UK Main Market, PSM & SFM	11	25	(56%)	50	60	(17%)
UK AIM	17	35	(51%)	75	86	(13%)
Borsa Italiana	2	3	(33%)	7	6	17%
Total	30	63	(52%)	132	152	(13%)

Company Numbers (as at period end)
UK Main Market, PSM & SFM	1,451	1,475	(2%)
UK AIM	1,143	1,195	(4%)
Borsa Italiana	292	296	(1%)
Total	2,886	2,966	(3%)

Market Capitalisation (as at period end)
UK Main Market (£bn)	1,824	1,952	(7%)
UK AIM (£bn)	65	79	(18%)
Borsa Italiana (€bn)	332	425	(22%)
Borsa Italiana (£bn)	278	366	(24%)
Total (£bn)	2,167	2,397	(10%)

Money Raised (£bn)
UK New	0.9	3.6	(75%)	12.3	8.7	41%
UK Further	1.0	7.0	(86%)	4.3	18.4	(77%)
Borsa Italiana new and further	0.7	2.0	(65%)	9.2	3.1	197%
Total (£bn)	2.6	12.6	(79%)	25.8	30.2	(15%)

Capital Markets - Secondary Markets
	Three months ended			Nine months ended
	31 December		Variance	31 December		Variance
Equity	2011	2010	%	2011	2010	%
Totals for period
UK value traded (£bn)	256.6	267.5	(4%)	882.3	880.9	0%
Borsa Italiana (no of trades)	15.1	14.6	3%	49.3	46.7	6%
Turquoise (€bn)	120.9	72.7	66%	397.2	241.2	65%

SETS Yield (basis points)	0.68	0.72	(6%)	0.70	0.71	(1%)

Average daily
UK value traded (£bn)	4.2	4.2	0%	4.7	4.6	2%
Borsa Italiana (no of trades)	235.6	228.7	3%	256.5	242.1	6%
Turquoise (€bn)	1.9	1.1	73%	2.1	1.2	75%

Derivatives (contracts m)
Turquoise	7.4	9.0	(18%)	29.1	26.2	11%
IDEM	9.2	9.5	(3%)	37.4	36.0	4%
Total	16.6	18.5	(10%)	66.5	62.2	7%

Fixed Income
MTS cash and Bondvision (€bn)	468	649	(28%)	1,785	1,896	(6%)
MTS money markets (€bn term adjusted)	11,545	15,827	(27%)	44,553	47,123	(5%)
MOT number of trades (m)	1.56	1.11	41%	3.68	2.95	25%

Post Trade Services
	Three months ended				Nine months ended
	31 December			Variance	31 December		Variance
	2011		2010	%	2011	2010	%
CC&G Clearing (m)
Equity clearing (trades)	15.9		15.2	5%	52.0	49.3	5%
Derivative clearing (contracts)	9.2		9.5	(3%)	37.4	36.0	4%
Total Contracts	25.1		24.7	2%	89.4	85.3	5%

Open interest (contracts as at period end)	4.0		3.0	33%
Initial margin held (average €bn)	11.1		7.0	59%	9.5	6.7	42%

Monte Titoli
Pre Settlement instructions (trades m)		8.0	7.5	7%	24.9	22.6	10%
Settlement instructions (trades m)		7.8	9.4	(17%)	25.2	29.3	(14%)
Total Settlement	15.8		16.9	(7%)	50.1	51.9	(3%)
Custody assets under management (average €tn)	3.03		3.00	1%	3.04	2.99	2%

Information Services
	Three months ended
	31 December		Variance
	2011	2010	%
UK Terminals
Professional - UK	38,500	38,000	1%
Professional - International	54,500	55,000	(1%)
Total	93,000	93,000	0%

Borsa Italiana Professional Terminals	135,000	140,000	(4%)

Total Income - Quarterly

	FY 2011					FY 2012
£ millions	Q1	Q2	Q3	Q4	FY 2011	Q1	Q2	Q3

Annual Fees	9.3	9.4	9.6	9.4	37.8	9.9	10.2	10.0
Admission Fees	8.8	6.5	9.5	8.3	33.0	12.2	8.2	7.1
Cash equities UK & Turquoise	26.7	21.9	21.6	26.2	96.4	24.3	27.8	21.1
Cash equities Italy	8.7	6.0	6.8	9.3	30.7	7.7	8.5	7.2
Derivatives	4.9	3.5	3.8	4.5	16.8	4.3	4.7	3.9
Fixed Income	7.4	7.2	8.3	9.5	32.4	9.8	9.0	8.0
Other	10.7	10.5	11.9	11.2	44.4	11.5	11.7	11.6
Capital Markets	76.5	65.0	71.5	78.4	291.5	79.7	80.1	68.9

Clearing	9.7	7.2	8.4	10.7	35.9	9.9	11.7	10.2
Settlement	5.0	3.9	4.5	4.8	18.2	4.8	5.0	4.3
Custody & other	12.2	10.3	11.0	11.6	45.2	11.3	9.7	10.0
Post Trade Services	26.9	21.4	23.9	27.1	99.3	26.0	26.4	24.5

Real time data	24.4	23.9	24.4	27.1	99.8	25.2	25.0	25.4
Other information	15.5	15.0	15.2	15.0	60.7	16.3	15.8	16.3
FTSE royalties	2.6	2.7	2.9	3.1	11.3	3.2	3.5	6.4
FTSE revenue								4.7
Information Services	42.5	41.6	42.5	45.2	171.8	44.7	44.3	52.8

MillenniumIT	5.0	4.0	4.1	5.0	18.2	3.2	6.4	5.5
Technology	7.6	7.9	7.3	7.7	30.4	7.4	7.8	7.6
Technology Services	12.6	11.9	11.4	12.7	48.6	10.6	14.2	13.1

Other	1.5	0.7	1.3	1.2	4.7	1.4	0.7	1.5

Total Revenue	159.6	140.6	150.6	164.6	615.9	162.4	165.7	160.8

Net treasury income through CCP business	5.9	10.8	14.8	19.8	51.3	25.8	28.5	33.5
Other income	1.9	1.9	2.0	1.9	7.7	2.0	2.1	2.0

Total income	167.8	153.4	167.4	186.3	674.9	190.2	196.3	196.3

Note: Minor rounding differences may mean quarterly and other segmental figures may differ slightly

This information is provided by RNS

The company news service from the London Stock Exchange

END

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