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LSEG boss hails ‘growing momentum’ of Pisces as profit soars
['Simon Hunt', 'City Editor']
City AM
LSEG boss hails ‘growing momentum’ of Pisces as profit soarsAutonomous driving startup Wayve became one of the first companies to use LSEG's Pisces venue for its employee secondary share saleThe boss of London Stock Exchange operator LSEG has hailed the “growing momentum” of its new Pisces venue as it reported a jump in profit.
Earlier this month, autonomous driving startup Wayve became one of the first companies to use the venue for its employee secondary share sale, followed by another from London fintech Moneybox.
LSEG reported a 6.9 per cent rise in turnover to £4.8bn for the first six months of the year, while pre-tax profit soared by almost a third to £1.3bn.
Alongside Pisces, LSEG is also gearing up to launch its new round-the-clock securities venue, dubbed LSE 24, in a bid to boost liquidity and lure retail investors away from other 24-hour venues like crypto exchanges.
“We are combining all of this innovation with a material improvement to margins and exceptional cash flow growth,” Schwimmer said.