• SETS trades for 2007 already exceed 2006 total

A combination of market volatility, the introduction of TradElect and recent enhancements to the volume discount scheme contributed to a surge in trading volumes on SETS, the London Stock Exchange’s electronic order book, during August. The number of trades on SETS exceeded a million on three separate days during August, helping to take the average daily number of trades to a new high of 688,391, an increase of 141 per cent on August last year. The average daily value traded on SETS was also a record at £9.9 billion, an increase of 96 per cent on August 2006.

The total number of trades on SETS during the month exceeded 15 million, bringing the total number of trades for the calendar year so far to 86.1 million. This is already well in excess of the 78.2 million trades carried out on the order book during the whole of 2006, and takes the year to date growth in the number of SETS trades to 72 per cent.

Trading on SETSmm, which is included in the SETS totals, was particularly noteworthy. Compared with August last year, the total number of trades on SETSmm increased 221 per cent to 4.3 million, and the value traded grew 177 per cent to £26.0 billion. Trading on the International Order Book was also strong, with 112,218 trades during the month, just over double the number carried out on the IOB during August last year. The value traded on the IOB grew 75 per cent year on year to £8.9 billion.

The value traded in ETFs on the Exchange during August increased 268 per cent on the same month last year to £3.8 billion, while the number of trades increased 234 per cent on August last year to 53,343.

There were 22 IPOs on the Exchange’s markets during August, raising a combined total of £1.2 billion, more than three times the total raised during August last year. Of these, two were UK IPOs on the Main Market, raising £84.4 million between them, two were international IPOs on the Main Market, raising a total of £382.4 million, and 18 were on AIM, raising £692.7 million between them.

RNS, the Exchange’s service for the dissemination of company news, issued 18,059 announcements during August. Of these, 38 per cent, or 6,864 were news and results announcements, representing an 87 per cent share of all such announcements made in the UK market.

There were 22 trading days in August 2007, the same number as during August last year.

For further information, please contact:

Notes to editors:

• About the London Stock Exchange
  
  The London Stock Exchange is the world’s premier international equity exchange and a leading provider of services that facilitate the raising of capital and the trading of shares.
  
  The London Stock Exchange is the most international equities exchange in the world and Europe's largest pool of liquidity. By the end of 2006, the market capitalisation of UK and international companies on the London Stock Exchange’s markets amounted to £4.4 trillion, with £6.7 trillion of equity business transacted over the year.
  
  The London Stock Exchange is a Recognised Investment Exchange (RIE) under the Financial Services and Markets Act 2000 and is supervised by the Financial Services Authority.
  
  Companies considering flotation have a choice of markets:
  AIM
  
  AIM is the London Stock Exchange’s international market specifically designed for smaller, growing companies, combining the benefits of a public flotation with appropriate levels of regulation.
  
  Main Market
  
  The London Stock Exchange’s Main Market for established companies seeking international recognition is one of the world’s best known, longest-established and most liquid markets. It is home to some of the world’s largest and most successful companies, giving them access to one of the deepest pools of capital in the world.
  
  Professional Securities Market
  
  The Professional Securities Market was established in July 2005, to coincide with the introduction of the FSA's new Listing Rules. PSM provides a solution for those issuers seeking to list securities in London without having to re-state their financial information to IFRS or follow the additional requirements of an offering to retail investors. Debt securities or depository receipts of any denomination may be listed on PSM on production of a prospectus aimed at a wholesale or professional audience.



• IPO
  
  An IPO or Initial Public Offering is when a new company joins one of our markets and raises capital by issuing shares. This excludes transfers and introductions (when companies join the market without raising money).



• Indices
  
  Indices are calculated and managed by FTSE Group, a world-leader in the creation and management of global equity indices. The FTSE Group is jointly owned by the London Stock Exchange and the Financial Times, but operates as an autonomous company.
  
  For information about the company or any FTSE indices, please contact media@ftse.com.



• SETS – the electronic order book
  
  It is over eight years since the launch of SETS and the order book continues to go from strength to strength, compressing spreads and significantly improving liquidity. SETS has recently delivered record increases in the number of orders entered and executed as new technology improves efficiency and fuels growth.



• SETSmm
  
  SETSmm is the Exchange’s trading service for FTSE 250 and other leading non order book securities. By combining the best features of the existing SETS and SEAQ trading services, SETSmm appeals to market users who want to trade electronically, as well as those customers who use the market making system.



• International Order Book (IOB)
  
  The IOB is the Exchange's order book for the trading of international Depositary Receipts, negotiable certificates which represent ownership of a given number of a company’s shares and can be listed and traded independently from the underlying shares.



• Retail Trading Figures
  
  Retail trading figures are available from our website at –
  www.londonstockexchange.com/en-gb/products/membershiptrading/retailtradestat.
  Figures are available from November 2002 to date.

View the full Press Release (PDF)

Back to the main press releases branch