LSEG Reports FX Growth as Schwimmer Highlights ForexClear Expansion

London Stock Exchange Group (LSEG) reported a 4.3% increase in FX revenue in the third quarter of 2026, as elevated market volatility supported client activity across its trading businesses.

FX revenue reached £70 million, compared with £67 million a year earlier, while the group’s broader Markets division recorded organic revenue growth of 12.5%.

Speaking on LSEG’s third-quarter results call, chief executive David Schwimmer highlighted the expansion of its OTC derivatives clearing business beyond interest rate swaps, pointing to strong growth at ForexClear.

“We are seeing excellent growth in ForexClear,” Schwimmer said, adding that CDSClear and Post Trade Solutions were also performing strongly.

He said the increasingly diversified clearing business was delivering growth across different market conditions, with investment and product expansion providing additional opportunities beyond those generated by volatility.

LSEG’s OTC derivatives business reported organic revenue growth of 16.7% during the quarter. Chief financial officer Michel-Alain Proch said SwapClear revenue grew 18%, CDSClear 15% and Post Trade Solutions 14%.

Schwimmer said LSEG’s approach was to deliver attractive underlying growth regardless of market activity, with periods of heightened volatility providing additional upside.

The group also reported strength in its FX and banking workflows businesses within Data & Analytics, where Workflows revenue increased 2.8%.

Overall, LSEG reported third-quarter organic revenue growth of 8.8% and raised its full-year revenue growth guidance to at least 8%.