The share price of the London Stock Exchange (LSE) fell by 12% during November 2009 according to the FTSE Mondo Visione Exchanges Index, following a tumultuous month in which established trading venues continued to fight competition from new entrants.
The index, which aims to reflect market sentiment and is a key indicator of exchanges performance, grew 2.2% led by growth in Mexico’s Bolsa Mexicana de Valores and the US exchanges CME Group and Intercontinental Exchange, up 9.6%, 8.5% and 6.6% respectively.
Herbie Skeete, managing director, Mondo Visione, said: “In another eventful month for listed exchanges, Mexico’s Bolsa Mexicana de Valores led growth, while the LSE and Greece’s Hellenic Exchanges lost 12% and 13.3% in value respectively. The LSE’s market share remains under siege on two fronts: the likes of Chi-X, BATS and Turquoise are continuing to take market share from the top, while Plus Markets continues to chip away at the small companies market. It is not all doom and gloom however, as the LSE’s new management team under Xavier Rolet, continues to re-engineer the exchange on the fly.”
The long-term picture appears to reflect a steady return to stability however, as every exchange bar Nasdaq OMX Group has grown in the past 12 months, contributing to year-on-year growth of 56.7%.
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