The number of trades on SETS™, the London Stock Exchange’s electronic order book, increased to 2.53 million in May 2003, 47 per cent higher than the 1.72 million trades in May 2002. The value traded on SETS decreased by six per cent to £55.5 billion in May 2003, down from £59.2 billion in May 2002. There were 20 business days in May 2003 compared with 22 in May 2002.

The average daily number of trades on SETS was 62 per cent higher at 126,328, up from 78,123 in May 2002. SETS achieved a 64.4 per cent share of eligible trades by value in May 2003, compared with 59.8 per cent in May 2002.

The total number of UK and international trades on the Exchange in May 2003 was 4.43 million, up from 4.22 million in May 2002. The average daily number of trades was 221,463 in May 2003, up from 191,916 in May 2002, an increase of 15 per cent. The average daily value of these trades decreased from £20.3 billion in May 2002 to £13.9 billion in May 2003.

On the primary market there were 11 new issues during May 2003, 3 of which were IPOs on AIM, raising £398 million between them. This compares with 19 IPOs in May 2002 – 6 on the Main Market and 13 on AIM. Northumbrian Water Group Plc joined AIM on 23 May 2003, raising £389 million and becoming the biggest IPO in AIM’s history.

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Notes to editors:

• About the London Stock Exchange:

  The London Stock Exchange is one of the world’s leading equity exchanges 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 by trading in the world and Europe's largest pool of liquidity. By the end of 2002, the market capitalisation of UK and international companies on its markets amounted to £3.1 trillion, with £4.6 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.

• SETS – the electronic order book.

  It is now five years since the launch of SETS and the service continues to go from strength to strength. Overall, the market is benefiting from tighter spreads and greater liquidity. Usage of SETS continues to grow, as shown by recent record increases in the number of orders entered, the number of firms using the order book and order book share of business.

  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 a wholly autonomous company.

  For information about the company or any FTSE indices, please contact media@ftse.com

  IPO - when a new company joins our market raising money. This excludes transfers and introductions (a company that joins a market without raising money).

LONDON STOCK EXCHANGE
MONTHLY FACTSHEET FIGURES

	May 2003
		2003		2002
	DOMESTIC EQUITY TRADING	Month	Year to date	Month	Year to date
	Equity Trading Value (£m)	143,296	695,197	168,076	782,218
	Number of Equity Trades	3,612,087	18,322,662	2,997,152	14,414,007
	INTERNATIONAL EQUITY TRADING
	Equity Trading Value (£m)	134,345	680,189	278,900	1,286,242
	Number of Equity Trades	817,172	4,459,274	1,224,989	6,423,493
	ORDER BOOK TRADING
	Order Book Value £m	55,525	282,895	59,199	274,211
	Order Book Trades	2,526,556	13,350,474	1,718,696	7,962,369
		May 2003		May 2002
	DOMESTIC MARKET CAPITALISATION £bn		1,217		1,523
	TOTAL NUMBER OF COMPANIES		2,736		2,890
	UK list	1,637		1,788
	Foreign	401		439
	AIM	698		663
	of which techMARK	201		235
		2003		2002
	MONEY RAISED £m	Month	Year to date	Month	Year to date
	UK & AIM New Issues Equity	414	523	1,388	3,325
	Further, Rights and Other	1,144	1,854	819	6,594
	Bonds, Warrants, Fixed Interest	7,439	43,061	5,746	33,811
	Int. New Issues Equity	-	-	-	-
	Further, Rights and Other	-	3,908	10	1,258
	Bonds, Warrants, Fixed Interest	5,188	37,089	11,705	36,803
	COMPANIES ADMITTED	11	53	30	103

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