2024 wrap-up – LSEG highlights

The stage is set

Let’s look back at 2024 inside the London Stock Exchange.

2024 saw many of you achieve milestones in your growth journeys, while we welcomed the most significant capital markets reforms in a generation.

The London Stock Exchange continues to be a leading global exchange and the number one venue in Europe for raising equity capital, with more raised in London this year than the next three European exchanges combined.

274 companies raised £25 billion of equity capital on London’s markets through 344 transactions, driving growth and opportunity for ambitious companies. We also saw a wide range of global borrowers raise over £732.6 billion through 12,742 fixed income issuances on our world-class bond markets.

[Music playing in the background. Video captures from the event] The stage is set.Let's look back at twenty twenty four inside the exchange.Two hundred and seventy four companies raised twenty fivebillion pounds of equity capital on the London marketsthis year through three hundred and forty four transactions,driving growth ambitions at every stage of the funding journey.From homegrown success stories like Raspberry Pi and AppliedNutrition to international businesses, including CanalPlus.London's main market has continued to be a keydestination for growing companies.Europe's leading growth market, AIM,also welcomed a range of dynamic companies.The London Stock Exchange has maintained its position as aleading global exchange and the number one listing venue inEurope.The fixed income business has seen another year of recordbreaking growth on our world class bond markets.Global borrowers raised over seven hundred and thirty twopoint six billion pounds through twelve thousand sevenhundred and forty two historic issuances.The listing of the Climate Investment Fund's capitalmarkets mechanism and admissions from the republicsof Brazil, Colombia, and the Turkish wealth fund took center stage.Through our dedicated sustainable bond market,issuers raised over fifty six billion pounds.The London Stock Exchange has continued to be a leading venueglobally for exchange traded products.With two hundred and twenty six new listings,our markets are now home to over two thousand three hundred ETPs,with aggregate assets under management of over one trillion pounds.Trading activity remains strong throughout twenty twenty four,with record days seen on the London Stock Exchange and Turquoise,including ETPs where over one hundred and fifty seven billionpounds has been traded.The most significant capital markets reforms in a generationcame into effect in July.These changes make the listing rules simpler and more flexiblefor companies looking to start, grow, and scale in the UK.We continue to partner with the Scale Up Institute,supporting growing businesses around the UK about how toaccess funding, markets, and talent.Twenty twenty four has seen an evolution in our markets,so we can support those who are pushing boundaries to realize their vision.Join us in the new year as we set the stage for your successin twenty twenty five.

Welcome to the Main Stage

  • The launch of the new London Stock Exchange Main Market and the most significant reforms to the UK's Listing Rules in a generation were introduced in July. These changes make the listing rules simpler and more flexible for companies looking to start, grow and scale in the UK.
  • London's Main Market continues to be an international destination for growing companies. 35% of companies listed on the London Stock Exchange are international, more than any other major exchange.
  • We saw innovative companies join our markets, from homegrown success stories such as Raspberry Pi and Applied Nutrition to international businesses including Air Astana, CKI Infrastructure and CANAL+.
The team celebrating on the balcony at LSEG during the welcome ceremony.

CANAL+ Market Open Ceremony

A spotlight on smaller growing companies

  • For the last 5 years combined, 54% of all capital raised on European growth markets has been raised on AIM, Europe's leading growth market.
  • AIM welcomed a range of dynamic businesses, including AOTI, Rosebank Industries, Winking Studios and Microsalt.
  • Partnering with the Scaleup Institute, we supported growing businesses around the UK on how to access funding, markets and talent.

Sustainability is integral to our products and services

  • Through our dedicated Sustainable Bond Market, innovative issuers raised over £56 billion through 133 issuances of new and existing bonds.
  • Within the equity markets we saw Green Economy Mark companies raise £574 million. At the time of launch, the Green Economy Mark was 74 issuers with a combined market capitalisation of £55 billion. Today, (five years later) the mark is now held by 99 issuers with a combined market capitalisation of over £160 billion.
  • 74 out of 183 new ETFs listed in 2024 had an ESG methodology [Note 1].
  • The London Stock Exchange was delighted to win “Stock Exchange of the Year,” at the Environmental Finance Sustainable Investment Awards 2024.

Bringing the stage to life with equities trading

  • Trading activity has remained strong throughout 2024 with record days seen on the London Stock Exchange and Turquoise, including London Stock Exchange’s two largest auction trading days of all time, and three of the top five trading days in Exchange Trading Products (ETPs) of all time.
  • The London Stock Exchange Order Book average daily traded value (ADTV) increased by just under 15 percent year-on-year to £4.2 billion, with ADTV in ETPs increasing by 27% to £672 million.
  • The London Stock Exchange admitted 9 new member firms in the year.
  • On Turquoise, Periodic Auction value traded increased by nearly three times with the top ten record trading days of all time happening this year.
  • LSEG was awarded the Editor's Choice Award for 'Outstanding Exchange Group' at the TRADE's 2024 'Leaders in Trading' awards.
The team celebrating on the balcony at LSEG during the welcome ceremony.

BlackRock’s Global Trading People’s Council

A stellar performance for listing of Exchange Traded Products (ETPs)

  • With 226 new ETP listings - 183 new Exchange Traded Funds (ETFs) and 43 new Exchange Traded Commodities (ETCs) / Exchange Traded Notes (ETNs) - the London Stock Exchange has continued to be a leading venue globally, home to over 2,300 ETPs with an aggregate Assets Under Management (AUM) of over £1.1 trillion. The total ETP listings in 2024 are up 20% compared to last year.
  • The universe of active ETFs has continued to grow, with asset managers, such as Abrdn, Ark Invest, American Century, and Robeco, launching their debut offerings. The London Stock Exchange welcomed 34 new active ETFs in 2024 and is now home to 93 active ETFs with an aggregate AUM of over £25 billion.
  • The London Stock Exchange went live with crypto ETNs in May, which marked a significant milestone for institutional investors looking for exposure to crypto assets in the UK. A total of 11 crypto ETNs, consisting of 100% physically backed Bitcoin or Ethereum, have been listed with an aggregate AUM of £2.7 billion.
  • From October 2024 International asset managers have begun utilising the UK’s new Overseas Fund Regime (OFR) that has streamlined the recognition process for overseas funds seeking to tap into the UK investor base.

London's bond market hits a high note

  • We saw a wide range of global borrowers raise over $938.9 billion (£732.6 billion) through 12,742 issuances on our world-class bond markets, including market-leading issuances from the Climate Investment Funds Capital Markets Mechanism, the Republic of Brazil, the Republic of Colombia and the Turkish Wealth Fund.
  • This year $124.4 billion (£96.9 billion) was raised through bond issuances on the London Stock Exchange’s International Securities Market (ISM) which compares to $63.3 billion (£51.1 billion) last year. The number of debt securities on the ISM has increased by over 210% this year, to 12,131 currently listed.
DCM Forum 2024 with keynote speaker, Odile Renaud-Basso, President of the European Bank for Reconstruction and Development (EBRD)

DCM Forum 2024 with keynote speaker, Odile Renaud-Basso, President of the European Bank for Reconstruction and Development (EBRD)

Raising the curtain on Closed-Ended Investment Funds

  • Our closed-ended investment fund market has been a conduit of capital into vital sectors of the British and global economy, supporting growth and innovation and enabling investors large and small to access unique investment opportunities.
  • We have welcomed the recent legislative and regulatory measures from the Government and the FCA that pave the way towards restoring the flow of capital into London-listed closed-ended investment funds and the industries that have benefitted from their portfolio allocations.
  • The London Stock Exchange has been part of an industry campaign calling for a nuanced regulatory approach to disclosure applied to closed-ended funds that recognises their listed nature and market-based price formation.
  • Two new Venture Capital Trusts, Fuel Ventures and Praetura Growth VCT, have joined our vibrant universe of tax-efficient vehicles that channel growth capital into the UK’s dynamic and innovative early-stage companies.

Companies take centre stage and unlock new opportunities with Issuer Services

  • We’ve continued to enhance our digital offerings and add to the family of Investor Relations tools our issuers have at their disposal, including adding multi-asset capabilities with IFR News and Deals Intelligence that covers equity and debt.
  • We welcomed valuable issuers to the exchange throughout the year to celebrate key milestones, including AstraZeneca’s 25th anniversary and Greggs’ 40th anniversary.
  • The team hosted nine flagship events this year including the second annual CMIT conference, and the inaugural Tech Leaders’ Summit.
  • The London Stock Exchange is delighted to have over 100 Marketplace members who help companies to find the ideal solution to match their needs.

2024 has seen an evolution in our markets so we can serve those who are pushing the boundaries to realise their vision.

Join us in the new year as we set the stage for your success in 2025.

Source

Sources: London Stock Exchange, LSEG Workspace, Dealogic, Bloomberg. All data included in this article are updated as of 30 November 2024.

[1] SFDR Article 8 and 9 ETFs. Sources: Morningstar, LSEG Workspace, product prospectus. | Back to Note 1

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