| Howell leaves London Stock Exchange with £3.8m |
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| Tuesday, 08 January 2008 | |
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Jonathan Howell has left his position as director of finance at the London Stock Exchange (LSE) with a total of more than 229,000 shares worth an estimated £3.8 million and the option to buy more.
He will take up the role of finance director at investment bank Close Brothers (LSE:CBG) on 4 February. Howell was the London Stock Exchange’s finance director since December 1999, with responsibility for finance and business operations. He was previously head of market regulation from 1998 and director of regulation from March 1999. He is non-executive chairman of FTSE International Ltd and joined the LSE in 1996 from PricewaterhouseCoopers. Howell's departure came as a surprise, as he was one of only three LSE executives to have their role confirmed following the merger with Borsa Italiano. Some 212 million electronic equity trades, with a combined value of £3.2 trillion were carried out on the cash markets of Borsa Italiana and the London Stock Exchange during 2007. The average daily number of trades over the year increased 55 per cent on 2006 to 839,244, while the average daily value traded grew 41 per cent to £12.8 billion. A total of 15.9 million equity trades were carried out on the two exchanges’ order books during December 2007, with the total value traded reaching £201.3 billion. The average daily number of order book trades during the month was 861,718, an increase of 47 per cent on the same month last year, while the average daily value traded increased 21 per cent to £11.0 billion. UK order book The average daily number of UK equity trades on the order book during 2007 was up 75 per cent on last year, reaching 530,239, while the average daily value traded was up 40 per cent to £7.9 billion. The total number of UK order books trades during the year was 134.2 million, and the total value traded was £2.0 trillion. The average daily number of order book trades in UK equities during December 2007 was 591,841, up 76 per cent on 2006. Over the same period, the average daily value traded increased 20 per cent to £6.8 billion. Italian order book The total number of order book trades in Italian equities reached 73.1 million during the year as a whole, an increase of 24 per cent on last year, while the total value traded reached €1.6 trillion (£1.1 trillion), up 38 per cent on the total for 2006. The average daily number of trades in Italian equities during December 2007 was 248,896, up four per cent on December 2006, and the average daily value traded was €4.7 billion (£3.5 billion), up three per cent. International order books The total number of order book trades in international securities was 4.8 million in 2007, an increase of 139 per cent on the 2 million trades during 2006. The total value traded also grew, up 79 per cent to £147.0 billion. There were 397,536 electronic trades in international securities across both markets in December 2007, an increase of 121 per cent on the same month in 2006. The total value traded was £12.8 billion, up 119 per cent on December 2006. The average daily number of trades during the month was 20,982, up 122 per cent on December 2006 and the average daily value traded increased 119 per cent to £673.9 million. ETF and ETCs The total number of electronic trades in ETFs and ETCs during 2007 was 1.5 million, 75 per cent higher than the previous year. The total value traded during the year nearly doubled, up 97 per cent on the total for 2006 to £34.8 billion. The total number of ETF and ETC trades on the exchanges’ markets in December 2007 was 102,159 and the total value traded was £2.9 billion. Compared with December 2006, this was a 36 per cent increase by number of trades and an 87 per cent increase by total value traded. Derivatives The total number of derivatives contracts traded across EDX and IDEM increased 32 per cent to a total of 79.9 million in 2007 compared with 2006, while the notional value traded grew 45 per cent to £1.5 trillion. In December 5.6 million contracts were traded, with a notional value of £118.4 billion. The average daily number of contracts traded, during the month increased to 329,165, up 52 per cent compared with December 2006. There were 5.0 million trades in securitised derivatives during the course of 2007, an increase of nine per cent on the number of trades the previous year. The total value traded was up 26 per cent on 2006 to £60.6 billion. December accounted for 250,624 trades in securitised derivatives, with a combined value of £2.5 billion. Related articles
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