Strong Growth for LCH Kicks Off 2019 for London Stock Exchange
Wide-moat-rated London Stock Exchange reported decent fiscal first-quarter results that generally fit in with our overall thesis on the firm. For interim reports, LSE only discloses revenue and cost of sales. Total income was up 5% (which includes net treasury and other income), while gross profit was up 6%. While some segments underperformed our full-year growth expectations, other segments outperformed, roughly balancing out revenue growth compared with our projections. Therefore, we do not pl...London Stock Exchange Group is a global markets infrastructure business based in the United Kingdom. Co's operating segments include: Information Services, which provides a range of information and data products including indexes and benchmarks; Post Trade Services LCH, which provides clearing services through which counterparty risk is mitigated across multiple asset classes; Capital Markets, provides access to capital for domestic and international businesses and electronic platforms for secondary market trading of equities, bonds and derivatives; and Group Technology, which provides secure technologies to customers that require performance at high levels of availability and throughput.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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