.jpg)
- Visit underlines strong business ties between UK and Australia
- 43 Australian companies listed in London
- LSEG committed to growing Australian presence through FTSE and LCH.Clearnet businesses
- Ceremony attended by Lord Mayor of London, Fiona Woolf
London Stock Exchange Group today welcomed the Hon. Julie Bishop MP, Australian Minister for Foreign Affairs to open trading on its London markets. The ceremony formed part of the Minister’s first official visit to the UK and served to highlight the close business relationship between the two countries.
Currently, 43 Australian companies are listed on London Stock Exchange; four on the Main Market and 39 on growth market, AIM. The businesses have a combined value of over £1.9bn.
London Stock Exchange Group has a growing presence in Australia through FTSE, its indices business and through its majority shareholding in LCH.Clearnet, the leading multi-asset class clearing house. LCH.Clearnet’s SwapClear, the world’s leading clearing service for over-the-counter interest rate swaps (IRS), clears 99% of all cleared Australian dollar IRS trades representing 35% of the overall market. Last year, LCH.Clearnet became the only non-Australian central counter party (CCP) to be granted a licence to clear for Australia’s Financial Energy Exchange (FEX). FTSE too has a strong presence in Australia, through its partnership with the Australian Superannuation Funds Association (ASFA), providing benchmarks specifically designed for the Australian market.
Xavier Rolet, CEO, London Stock Exchange Group said:
"The City of London and Australia have long enjoyed very close ties and I’m delighted to renew those today by welcoming the Hon. Julie Bishop MP to open trading on our markets. As one of the most exciting growth stories of the last 20 years, Australia represents a significant opportunity for London Stock Exchange Group. We look forward to working closely with the new government to further help Australian companies raise international capital in London and support the on-going development of Australia’s financial market infrastructure.”
Australian Foreign Minister the Hon. Julie Bishop said:
"Australia and the United Kingdom enjoy an extensive economic and trade relationship, with two-way trade worth around $22.3 billion. British capital continues to play a vital role in the Australian economy with the UK our second largest source of foreign direct investment. Australian direct investment in the UK is more than A$55 billion, making Australia the UK’s 9th largest foreign direct investor. In 2014, our two countries are strong supporters of an open, transparent and stable international financial system."
