23 September 2017
visit www.avoka.com

LSE to cut issuer fees following OFT probe

27 November 2003  |  4765 views  |  0 London Stock Exchange2

The London Stock Exchange (LSE) has agreed to cut the fees it charges companies for listing on the market following an investigation by the Office of Fair Trading.

The OFT's investigation, under the Financial Services and Markets Act 2000, was in response to the LSE's significant increase in issuer fees for the year 2002/3. It comes amid growing complaints among large investment banks about the pricing power wielded by monopolistic national exchanges.

The LSE has agreed to reduce its annual fees for issuers by more than 25% on average with effect from 1 April 2004. The OFT estimates that these price reductions will reverse most of the 2002/03 increase - bringing it down from around 85% to an increase of 35%. The LSE has also agreed not to raise main market annual fees significantly for a further two years.

The LSE has also undertaken to reduce its admission and annual fees on the small cap AIM market. In all, it is estimated that had these prices been in place in 2002/03 the LSE's revenue from charges would have been around £5.8m lower.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

LSE rejects Eurex and stays with LCH

LSE rejects Eurex and stays with LCH

25 November 2003  |  4415 views  |  0 comments
Competition watchdog probes London Stock Exchange fees

Competition watchdog probes London Stock Exchange fees

06 November 2003  |  3159 views  |  0 comments
LSE's Dutch trading service to undercut Euronext fees by 40%

LSE's Dutch trading service to undercut Euronext fees by 40%

22 October 2003  |  4467 views  |  0 comments
London Stock Exchange to launch Dutch trading service

London Stock Exchange to launch Dutch trading service

14 October 2003  |  3365 views  |  0 comments
London Stock Exchange sets go live date for new hybrid trading platform

London Stock Exchange sets go live date for new hybrid trading platform

08 October 2003  |  3835 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comvisit www.sibos.comvisit www.temenos.com

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
13206 views comments | 27 tweets | 43 linkedin
AXA launches blockchain to cover late flight compensationAXA launches blockchain to cover late flig...
9405 views comments | 13 tweets | 27 linkedin
Apple P2P payments service nears launchApple P2P payments service nears launch
8531 views comments | 19 tweets | 27 linkedin
SBI Ripple Asia advances on South KoreaSBI Ripple Asia advances on South Korea
8191 views comments | 16 tweets | 1 linkedin
European Commission makes fintech a priority in supervisory shakeupEuropean Commission makes fintech a priori...
7988 views comments | 32 tweets | 45 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job