LSEG reported third-quarter FX revenue of £70 million, up 4.5% from £67 million a year earlier. OTC derivatives revenue rose 16.3% to £186 million from £160 million, according to the group’s 22 October trading update.[1]
The group attributed OTC growth to stronger clearing activity, particularly at SwapClear, alongside new-member growth at CDSClear and adoption of its post-trade services. It attributed FX growth to continued client activity amid elevated volatility.[1]
LSEG's table distinguishes reported percentage movements from organic constant-currency movements. FX grew 4.3% on the latter basis, compared with 4.5% reported; OTC derivatives grew 16.7% organic constant currency, compared with 16.3% reported. The comparison should retain the chosen basis across segments.[1]
LSEG Q3 2026 reported revenue by business line
| Q3 reporting line | 2026 vs 2025 | Reported y/y increase |
|---|---|---|
| FX | £70m vs £67m | 4.5%Source 1 |
| OTC derivatives | £186m vs £160m | 16.3%Source 1 |
| Fixed income, derivatives and other | £428m vs £375m | 14.1%Source 1 |
| Workflows | £479m vs £471m | 1.7%Source 1 |
Workflows revenue rose 1.7% on a reported basis to £479 million and 2.8% organically at constant currencies. LSEG cited demand from FX and banking users and reported 47,000 Workspace AI Search users, alongside more than 11,000 Deep Research users. These adoption figures are separate from recognised product revenue.[1]
Across Markets, revenue and other income totalled £957 million, up 12.6% reported and 12.5% organically at constant currencies. The FX and OTC figures measure LSEG business lines, rather than global currency turnover or total cleared notional.[1]
Sources & further reading
- London Stock Exchange Group plc: Q3 2026 Trading Update London Stock Exchange Group · 22 Oct 2026 · Accessed 30 Oct 2026