London Stock Exchange expects big floats to return Many firms that took part in the wave of stock market debuts earlier in the year have been left trading below their IPO price, including AO World, Pets at Home and Saga. The LSE said capital markets revenue rose 13pc to £164.6m in the six months to the end of September, with increasing activity on the primary markets, where the number of new issues rose from 79 to 126 over the half-year, and the secondary markets. Companies raised £27.5bn on the LSE's markets in London and Italy in the period, up 83pc on the same time last year. The firm's total revenues rose 15pc to £592.6m, while operating profits rose 10pc to £172.3m. The £1.6bn acquisition of Frank Russell, which is expected to complete by the end of the year, brings with it the biggest benchmark provider in the US and an investment management business, which the LSE is reviewing. Russell's indices business will be integrated with FTSE. About a third of the LSE's revenues will come from the US once the takeover of Frank Russell completes, and Mr Rolet said the firm has its sights on more bond trading and building on its position in interest rate swaps. LCH.Clearnet, the clearing house that the LSE bought in 2012, posted a 30pc rise in revenues at constant currency to £165.7m. Future revenues will take a hit from the end of the commodities clearing contract with the London Metals Exchange in September, though higher tariffs on fixed income trading are expected to cushion the blow. [T]he LSE has transitioned from being a potential victim of consolidation to being a consolidator in its own right. Management is taking very important steps to diversify the business and, thus, de-risking it," said Owen Jones, an analyst at Espirito Santo. The firm plans to pay an interim dividend of 9.7p per share, a rise of 4.3pc on last year when adjusted for a rights issue earlier this year that was used to fund the Russell deal.