The London Stock Exchange's interim results mark an important move away from the exchange's traditional core revenue stream as the 208-year old market attempts to diversify amid growing competition.

The exchange today reported a 10% decline in capital markets revenues, which comprise both trading and listings, underlining a shift in emphasis away from the exchange's long-standing core business. Picking up the slack were gains in new areas: the technology services unit, which posted 78% revenue growth, and the Italian clearing business, where net treasury income grew by 72%.