(Alliance News) - London Stock Exchange Group PLC, at an investor event on Friday, reiterated its growth targets for its Data & Analytics unit.
The stock market operator is guiding for the unit to grow revenue by 4% to 6% annually over the medium term. LSEG's Data & Analytics unit holds its FTSE Russell stock index business and newly-acquired data and trading systems provider Refinitiv.
When reporting its interim results in early August, LSEG had said the integration of Refinitiv was running ahead of schedule. The firm had reported "good progress" on the integration of Refinitiv, the financial data company it bought for USD27 billion in a deal which closed earlier this year. LSEG lifted its 2021 forecast for run-rate cost synergies to GBP125 million from GBP88 million, after realising GBP77 million of synergies in the first half.
"Revenues of Investment Solutions and Wealth Solutions are anticipated to grow by a high single-digit percentage, and a low to mid single-digit percentage respectively on an annual basis over the medium term," LSEG said in its statement on Friday.
The company also pointed to its Forex business benefiting from a "strong global presence" and "extensive product offerings" in both dealer-to-dealer and dealer-to-customer businesses.
"FX is well-positioned for continued growth in electronic trading, which will be further strengthened by migration to new technology in the dealer-to-dealer segment and enhanced service capabilities," LSEG added.
Shares were 0.2% higher in London on Friday afternoon at 7,462.00 pence each.
By Paul McGowan; paulmcgowan@alliancenews.com
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