24 February 2018
Visit www.avoka.com

London Stock Exchange to phase out Seaq - The Guardian

06 November 2002  |  2892 views  |  0 London Stock Exchange to phase out Seaq - The Guardian

The London Stock Exchange is proposing to phase out the Seaq quote-driven share trading system, according to a report in British broadsheet The Guardian.

The newspaper says that a meeting with a group of investment bankers and institutional fund managers was held last week at which Exchange officials claimed that the quality of trading in many medium-sized companies in London had deteriorated to the point where a completely new approach to market dealings is now required.

The report says that the Exchange wants some sort of hybrid system incorporating the execution and settlement benefits of an order-driven system, such as a central counterparty, with the liquidity provided by the system of specialists used by the New York Stock Exchange.

"We are looking at how best we can extend the benefit of an order-driven environment to those 130 stocks in the FTSE 250 that are not already on Sets," a spokesman for the LSE told the newspaper.

The spokesman said the Seaq proposals had been discussed with an advisory group, but that no decisions had yet been taken.
KeywordsBUY SIDE

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

London Stock Exchange to build market data warehouse

London Stock Exchange to build market data warehouse

21 October 2002  |  6087 views  |  0 comments
Brief: Cruickshank to step down as LSE chairman

Brief: Cruickshank to step down as LSE chairman

07 October 2002  |  2471 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.ebaday.comVisit https://www.capgemini.comVisit www.vasco.com

Top topics

Most viewed Most shared
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
12142 views comments | 16 tweets | 10 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
10465 views 4 | 9 tweets | 1 linkedin
Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
8865 views comments | 15 tweets | 26 linkedin
Investment Association sets up fintech accelerator for asset managersInvestment Association sets up fintech acc...
8319 views comments | 19 tweets | 10 linkedin
R3 creates Legal Centre of Excellence for blockchain technolgyR3 creates Legal Centre of Excellence for...
7937 views comments | 10 tweets | 14 linkedin

Featured job

Competitive base + commission
London, UK

Find your next job