The Law Society/Legal Monitor City legal Index tracks publicised business deals facilitated by the top 50 UK law firms, providing a gauge of City firm input into the wider economy.
The headline index for the total number of deals compares the number of deals in the latest quarter with the average number of deals over the first year of data collection in 2009.
The underlying trend in the number of deals is shown by the change in the one-year moving average in the figures (ie the change in the average number of deals over the previous four quarters up to and including the quarter under review).
Indices are also produced for the average value of deals and the total value of deals along with the one-year moving averages for these figures.
The total number of deals, average value, and total value are all analysed by the main industry sectors generating the deals and by the main matter type of deals.
The seven broad industry sectors tracked are:
- Finance and banking
- Fund/investment management
- Technology, media and telecoms
- Energy and utilities
- Real estate and construction
- Other (covers a range of sectors including healthcare, life sciences and chemicals; government and public policy; transport and logistics; and business services)
The five broad transaction/matter type categories tracked are:
- Banking and finance
- Mergers and acquisitions
- Property/property finance
- Other (covers a range of matter types including anti-trust/competition, EU and trade; planning and development; and intellectual property)
The data in the City Legal Index is taken from Legal Monitor's Market Tracker product, a comprehensive database of all publicly disclosed deals and representation activity.
The product includes data on more than 80 leading global law firms by fee income, covering 17 key practice areas and 25 industries. Data is derived from a comprehensive base of primary and secondary sources, including law firm websites, trade and legal press and multiple news portals.
The latest City Legal Index incorporates data up to the end of June 2016. The next release of the City Legal Index is expected to be in March 2017 and will include data up to the end of December 2016.