London Stock Exchange Group has reported a significant surge in its FX revenues for the first quarter of 2025. The Markets division of the group experienced robust growth, driven by increased global market volatility and heightened client activity. Specifically, the FX segment saw revenues reach £69 million, marking a 12.3% increase compared to the same period in the previous year.
The overall performance of the Markets division was impressive, with revenues climbing by 13.5% on a constant currency basis, totaling £834 million. Various segments within the division also showed double-digit growth, such as Over-the-Counter (OTC) Derivatives and Fixed Income, Derivatives & Other, which saw organic growth rates of 16.8% and 17.3%, respectively.
David Schwimmer, CEO of LSEG, expressed satisfaction with the division’s performance, highlighting the strong growth in FX, OTC Derivatives, and Tradeweb platforms. The momentum seen in the first quarter continued into April, reflecting the ongoing uncertainty in global markets.
LSEG surpassed its forecasts for the quarter, with total income excluding recoveries growing by 8.7%. Despite a 7.2% increase in costs of sales, the group maintained healthy profitability, reporting a gross profit of £2.05 billion, up 7.5% year-on-year. Additionally, LSEG executed a share buyback program, returning £245 million to shareholders by the end of April.
Looking ahead, LSEG’s management reaffirmed its full-year guidance, anticipating organic total income growth of 6.5% to 7.5% for 2025, coupled with improvements to EBITDA margins. The company remains optimistic about its continued performance and strategic initiatives.
In a move to bolster its data and foreign exchange businesses, LSEG announced key executive appointments. Gianluca Biagini and Ron Lefferts were appointed as Co-Heads of LSEG’s Data & Analytics division, bringing a wealth of experience to oversee data operations. Additionally, Gavin Wells was named Chief Operating Officer for the foreign exchange division, further strengthening LSEG’s position in the global currency trading arena.
The London Stock Exchange Group’s strong performance in the first quarter of 2025 underscores its resilience and strategic focus in navigating the evolving financial landscape. With a solid foundation and key executive appointments in place, the group is poised for continued growth and success in the coming months.
