Is LSEG.L (London Stock Exchange Group plc) Halal or Haram?

Based on our AAOIFI-standard shariah screening, LSEG.L is Not Halal (Haram) and is not considered permissible for Muslim investors. It failed 1 of 4 compliance screens. London Stock Exchange Group plc's core business activity was found to be non-compliant.

London Stock Exchange Group plc (LSEG) is a global financial markets infrastructure business that goes far beyond just the London stock market. It operates major trading venues like Turquoise and FXall, but generates the bulk of its revenue from its Data & Analytics division, which includes the massive Refinitiv platform and FTSE Russell indexes. These tools provide critical data, pricing, and analytics to traders and investors worldwide, positioning LSEG as a powerhouse in global finance. For Muslim investors using HalalStocks.co.uk, LSEG presents a classic compliance challenge where the financials look good, but the core business does not. The stock is currently flagged as Not Halal (Haram) because it fails the Business Activity screen. Although the company passes the financial ratios—with low interest income (1.66%) and acceptable debt levels—its role in facilitating the trade of conventional bonds, derivatives, and interest-based instruments makes its primary operations incompatible with Islamic principles. Financially, LSEG is robust, with a Debt-to-Market Cap ratio of 25.7 %, sitting comfortably below the 33% threshold. However, the nature of its revenue is the sticking point; income derived from transaction fees on non-compliant financial products or clearing services for conventional debt markets is considered impermissible. Even though they sell data, that data is often inextricably linked to prohibited trading activities. Investors should understand that while some scholars might debate the permissibility of pure data providers, LSEG is an active market operator. Until the company segregates its revenue streams or focuses purely on technology and compliant asset classes, it remains off-limits for strict shariah-compliant portfolios. London Stock Exchange Group plc operates in the Financial Services sector under the Financial - Data & Stock Exchanges industry and is headquartered in London, GB. The company is led by CEO David Adam Schwimmer and employs approximately 26,251 people.

LSEG.L was screened using AAOIFI-based shariah compliance criteria. Four tests are applied: (1) Business Activity — the company's core business must not derive primary income from haram (prohibited) activities such as alcohol, gambling, tobacco, or interest-based finance. (2) Debt-to-Market-Cap — total debt must not exceed 33% of market capitalization. (3) Interest Income — interest income must not exceed 5% of total revenue. (4) Cash & Securities — cash and interest-bearing securities must not exceed 33% of market cap. LSEG.L passed 3 of these 4 screens.

LSEG.L was last screened on 2026-02-24. Shariah compliance status can change as companies report new financial data, acquire new businesses, or shift revenue streams. We recommend checking back periodically for the most up-to-date screening results.