The London Stock Exchange Group (LSEG) has grown its profit as the group benefited from stronger trading in the public markets amid an uptick in flotations.
The group, which owns London’s stock market, said it generated a total income of £2.1 billion between July and September.
This was about a 10th higher than the same period last year at constant currency.
Its overall profit also jumped a 10th to £1.9 billion for the latest period.
LSEG makes the bulk of its income from its data and analytics arm, where it provides financial markets insights across hundreds of global markets.
It uses artificial intelligence (AI) to power some of its analytics tools.
Income across the division ticked up by nearly 5% year-on-year, the firm said.
Meanwhile, income from its capital markets unit surged by more than a fifth, incorporating an increase in equities against a “backdrop of strong market activity”.
LSEG said it was a record quarter for its trading platform Tradeweb.
The improved performance follows a lacklustre period for London’s stock market which was hit by a dearth of initial public offerings (IPOs) as well as a number of UK-listed firms being bought out or defecting to markets abroad.
However, there have been some notable IPOs this year, raising hopes that activity in the City could pick up pace.
This includes Raspberry Pi, a budget computer firm which buoyed markets with a valuation of about £540 million.
On Thursday, sports health business Applied Nutrition kicked off its stock market debut with a valuation of about £350 million.
