Trading on SETS, the London Stock Exchange’s electronic order book, reached a new high in May 2004 as the Exchange recorded more year on year increases in trading across its markets.

Over the course of May, the daily average number of trades on SETS reached a new high of 163,565, an increase of 29 per cent on the daily average for the same month last year. The total number of trades on SETS was up 23 per cent to 3.11 million, while the total value traded increased 28 per cent to £71.0 billion. A similar growth trend was reflected in SETSmm, the Exchange’s electronic order book for FTSE 250 and other leading non order book securities, which reached a new monthly record of 260,588 trades during May.

Overall there were 4.09 million UK equity trades on the Exchange, an increase of 13 per cent on last May. The value traded rose 32 per cent to £189.6 billion, up from £143.3 billion in May 2003.

On 24 May, the Exchange launched its new EUROSETS Dutch Trading Service. In the first week of trading, the value traded on book was €109.6 million, whilst off-book business amounted to €1.1 billion. This start was in line with expectations, and once vendors resolve their outstanding software issues it is expected that the service will develop.

A new record was also set in the value of trades in covered warrants. On average, £6.19 million worth of covered warrants was traded each day on the Exchange during May 2004. This was significantly up on the daily average of £345,823 traded during May 2003, and approaches the £6.92 million total value traded in covered warrants for the whole of that month.

There were twenty nine new issues on the primary market in May, raising over £600 million between them. Four of these new issues were on the main market, including two IPOs. The rest were on AIM, which saw seventeen IPOs.

There were nineteen business days in May 2004, compared with twenty in May 2003.

For further information, please contact:

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 2003, the market capitalisation of UK and international companies on its markets amounted to £3.3 trillion, with £3.6 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 over six 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).

• SETSmm

SETSmm is the Exchange’s new 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.

• Retail Trading Figures

Retail trading figures are available from our website at - http://www.londonstockexchange.com/trading/retailtrade.asp
Figures are available from November 2002 to date.

London Stock Exchange
Monthly Factsheet Figures
May 2004

	2004		2003
DOMESTIC EQUITY TRADING		Year to date		Year to date
Equity Trading Value (£m)	189,621	1,015,814	143,296	695,197
Number of Equity Trades	4,085,434	22,632,074	3,612,087	18,322,622
INTERNATIONAL EQUITY TRADING
Equity Trading Value (£m)	199,065	1,023,417	134,345	680,189
Number of Equity Trades	881,289	4,837,603	817,172	4,459,274
ORDER BOOK TRADING
Order Book Value (£m)	71,022	375,432	55,525	282,895
Order Book Trades	3,107,728	16,333,810	2,526,556	13,350,474

	May 2004	May 2003
DOMESTIC MARKET CAPITALISATION (£bn)	1,371	1,217
TOTAL NUMBER OF COMPANIES	2,711	2,736
UK list	1,513	1,637
Foreign	369	401
AIM	829	698
of which techMARK	177	201

	2004		2003
MONEY RAISED (£m)		Year to date		Year to date
UK & AIM New Issues Equity	334	1,640	414	523
Further, Rights and Other	2,860	5,493	1,144	1,854
Bonds, Warrants, Fixed Interest	9,449	59,318	7,439	43,061
Int. New Issues Equity	268	487	-	-
Further, Rights and Other	11	122	-	3,908
Bonds, Warrants, Fixed Interest	12,086	46,103	5,188	37,089
COMPANIES ADMITTED	29	120	11	53

Back to the main press releases branch