Despite sweeping job cuts in financial markets and cut-backs on IT spend, IS turnover was £51m for the six months to 30 September 2002. This is up 7% from the same period last year.
Revenue from the sale of the LSE's proprietary electronic trading platform technology, Sets, and the commercial launch of its regulatory news service in April contributed to the turnover from information services. The exchange did not, however, give a detailed breakdown for the figure.
Over the last few years competition in the trading software market has intensified, with leading exchanges marketing their trading
systems. The London Financial Futures and Options Exchange has also spun off its technology division as a separate consultancy, while remaining as the exchange's internal IT services provider.
Meanwhile, the LSE plans to introduce a new global numbering system to help to reduce the number of failed cross-border trades.
Failed cross-border trades cost the global securities market about £800m a year and £125m of this loss is thought to be linked directly to problems identifying the securities involved in cross-border transactions.