The London Stock Exchange today said trading volumes have risen but values have fallen as it feels the pain from the market crash and the emergence of rivals.

Outgoing chief executive Clara Furse, who will be replaced by Xavier Rolet in May after eight years in charge, said the average number of daily trades in the 11 months to the end of February rose 17% to 735,000. But the average value traded fell 21% to £7.1 billion from £9 billion.

Furse said that reflected the fall in the FTSE 100, which lost 33% in the period. LSE shares were down 9½p to 510½p today, having lost three-quarters of their value since their all-time high of 1979p in January last year.

Furse said: "Trading volumes on Sets have increased over the year, but value traded has fallen, particularly in the second half of the year, reflecting a sharp reduction in the value of the FTSE 100 as all trading venues experience very difficult market conditions. However, our markets remain robust, well-regulated and ever more vital to economic recovery."