London Stock Exchange Group (LSEG) registered a 16 percent year-on-year increase in total income to 323.9 million pounds in the first quarter of the financial year 2014, or in the three-month ended 30 June 2014.

Revenue increased 20 percent overall and 12 percent on an organic and constant currency basis, with growth across nearly all business segments, said LSEG in a statement on Wednesday.

LSEG's Capital Markets revenues were up 16 percent, with strong growth in primary markets as the number of new issues more than doubled, data showed. Secondary markets were benefited from improvements in fixed income trading and Italian cash equity volumes, said LSEG.

Total income of LCH.Clernet, a clearing arm of the Group, climbed by 14 percent year on year, with good growth in over-the-counter (OTC) and commodities revenues, data showed.

Information Services of LSEG recorded a 5 percent increase in revenues, while Technology Services revenues declined by 8 percent.

The Group also announced the proposed acquisition of Frank Russell Company, a United States-based global indexing and investment management company, on June 26.

Xavier Rolet, Chief Executive of LSEG, said:" We have been pleased by the continued resurgence in the IPO market with an increase both in the number of companies joining our markets and the amount of money raised."

He also noted that the strategic acquisition will accelerate development in one of the Group's core strengths, intellectual property, and offers significant growth potential.

"In the coming months, we will focus on obtaining the necessary approvals to complete the acquisition and to deliver the financial benefits of the transaction to the Group," said Rolet. (1 British pound = 1.71 U.S. dollars)