Nomura's cash equity volume reaches No. 3 on LSE
LONDON, July 1 (Reuters) - Japan's Nomura (8604.T), which took over the European, Middle Eastern and Asian units of Lehman Brothers, saw its cash equity business on the London Stock Exchange (LSE.L) jump to No. 3 in June from No. 8 in May.
That came a month ahead of its target and the house is focused on claiming the top ranking by the end of this year. In total, Nomura said it gained a market share of 6.3 percent of cash equities traded on the LSE.
Lehman Brothers, which collapsed in mid-September, topped European equity trading with a 17 percent market share in early 2008, according to Thomson Reuters data.
A top post in trading business would help Nomura in winning more corporate clients.
According to Hemscott, J.P.Morgan Cazenove, which is jointly owned by J.P. Morgan (JPM.N) and Cazenove, with 228 clients, runs the most profitable corporate broking business in UK.
Citi (C.N) came second with 61 clients, followed by Deutsche Bank (DBKGn.DE), Credit Suisse (CSGN.VX) and UBS (UBSN.VX). Nomura is broker to 4 FTSE-100 clients and have 15 corporate brokerships including new win Stagecoach Plc. (Reporting by Daisy Ku; editing by Elaine Hardcastle)
