The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Bruce Hamilton - Morgan Stanley - Analyst
: Thanks for taking my questions. First one, I mean, obviously, a good, continued improvement in ASV and you gave comments about how you
expect that that should run at around these levels through the rest of this year. I guess some of your competitors have talked about elongated
sales cycles and pressure on end clients driving some moderation in growth. But obviously, it doesn't sound like you're seeing that. But how should
we think about growth and those pressures as we look across that perhaps into next year?
And then secondly, on the index subscription growth, obviously 14% above some of your peers. Any particular color on growth drivers there? Are
you taking market share in ESG? Is it driven by demand for [automatic] or something else? Is there any color in what's driving that very strong
growth? Thank you.
Question: Bruce Hamilton - Morgan Stanley - Analyst
: Very helpful. Thank you.
Question: Tom Mills - Jefferies - Analyst
: Hey, good morning, guys. Thanks for taking my question. Just a follow-up on ASV side. I think you take the vast majority of price on January 1. But
could you just remind us of how much additional you'd take throughout the balance of the year? And any other sort of dynamics on the ASV side
that we might want to think about sequentially? Obviously, I take your point, given the size of the step-up that we've seen in 1Q that stable from
here would still be very strong.
And then just on the Trading and Banking sides, I guess the progress there look so good. Could you perhaps just talk us through some of the
dynamics that you're seeing there as well, please, and the kind of conversations you're having? That will be very helpful. Thank you.
Question: Tom Mills - Jefferies - Analyst
: Thanks very much. Very clear.
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APRIL 27, 2023 / 7:30AM, LSEG.L - Q1 2023 London Stock Exchange Group PLC Trading Statement Call
Question: Greg Simpson - BNP Paribas - Analyst
: Hi, good morning. Thank you for taking my questions. First, could I just ask you if you can share some thoughts on AI and the potential implications
for LSEG? Is there anything you're actively exploring? Does the partnership with Microsoft allow you to leverage their expertise there? That will be
the first question.
And then the second one is with the UBS-Credit Suisse deal closing -- being announced this quarter, what is the kind of level of client concentration,
et cetera, with LSEG? And what is your experience when you get these kind of mergers between firms? Is it like a 1 plus 1 equals 2 or less than 2?
Just some color there would be great. Thank you.
Question: Greg Simpson - BNP Paribas - Analyst
: Thank you. Maybe just a quick follow-up. In Post Trade, I'm just conscious that March did see very high (inaudible) volatility but has maybe pulled
back a bit since. Is there any color on net interest, net treasury income, the run rates into the rest of the year and were those record cash balances
sustainable?
Question: Greg Simpson - BNP Paribas - Analyst
: Thank you.
Question: Russell Quelch - Redburn - Analyst
: Yeah, good morning, all. Wondered if you could talk to the strong growth in the Customer and Third-Party Risk business in the quarter. Interested
to see if that is structural or cyclical. Wondered if this is an area you may be looking to grow the product offering, organically or inorganically, given
the sizable TAM opportunity and your strong competitive position.
Question: Russell Quelch - Redburn - Analyst
: Well, thank you. Maybe just a short follow-up and correct me if I missed it. But have you -- I think you've reduced the disclosure on a divisional cost
of sales basis. So could you give us the numbers on cost of sales at divisional level and just your thoughts on costs for the rest of the year, please?
Thank you.
Question: Russell Quelch - Redburn - Analyst
: Just your thoughts on costs for the rest of the year?
Question: Russell Quelch - Redburn - Analyst
: Makes sense. Thanks very much.
Question: Ben Bathurst - RBC - Analyst
: Morning. Thank you for taking my question. There was some high profile annual data and analytics industry data published last week. I just wondered
if you had a chance to benchmark Refinitiv using that or any other information recently and if there had been any kind of key takeaways in terms
of changes in your overall market share of late. But also interested to hear your views on if the overall data and analytics market is growing at the
sort of rate that you'd have expected when announcing the (inaudible) deal initially. Thank you.
Question: Ben Bathurst - RBC - Analyst
: Thank you.
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