The London Stock Exchange surpassed Deutsche Bourse and will likely become the place number 1 in Europe for reporting equity trades. Due to the last month data it dealt with more than a fifth of the continent’s share turnover.
The London Stock Exchange experienced the growth of its market share for all European equities in the last month. This growth was at the point of 20.95%. From this it became clear that the LSE secured the top spot. However this growth was caused partly by the inclusion of the recently purchased Italian Markets. As for the European trade reporting system with a financial information company Markit as a head it was the second and the Deutsche Bourse took the third place.
At the same time the trading system Chi-X with its base in London is also growing from day to day since it was established in the March 2007. Due to market analysis this system has quadrupled its market share of equities in Europe since the February and moreover has reached the 7th place with the volume of market share of 4.23%. Thus it has come close to Swiss exchange group SWX Europe and Spanish exchange.
According to the last week announcement the Chi-X overcame the point when over the fifth of all FTSE 100 stocks participated in trades on Wednesday.
Due to Michael Spencer – a chief executive of inter-dealer broker Icap he is not going to merge with the London Stock Exchange as its share prices too low. He has also added that such deal will not be a profitable one. Icap intends to concentrate on purchasing and constructing back-office systems with the aim to support trading. Another will of Icap is to set up a cash equities business inside the Icap to bring brokers and big investment banks together.
According to Spencer there is real demand for such independent broker agency as there are always too many arguments between large integrated investment and commercial banks.