February 2005 saw an average 308,932 trades each day across the London Stock Exchange’s markets, exceeding the record daily average of 298,284 trades set only the previous month. This is the first time that the average daily number of trades has reached over 300,000, and represents a 16% increase on the average daily number of trades in February last year. The average daily value traded was £21.2 billion, up 8% on the same month last year.
The record trading has been driven by the continuing growth of SETS, with the average daily number of trades on SETS at 197,055 during the month, up 26% on February 2004. The average daily value traded on SETS was £4.1 billion, up 7% on the same month last year.
February was also a strong month on the London Stock Exchange’s primary markets. There were 11 new companies on the main market, including one each from Israel, Korea, and Russia. The total money raised by IPOs on the main market was £1.2 billion. International companies joining the main market during February raised more money than in any single month since February 2001. There were 30 IPOs on AIM during February, raising £159.3 million between them.
There were 20 trading days in February 2005, the same number as in February 2004.