Order-driven confusion fuelled by Asian turmoil
Article Abstract:
Wild fluctuations in shares on Asian equity markets have caused considerable concern among investors. This has in turn presented a serious challenge for the London Stock Exchange's new order-driven computer system. The proportion of trades in FTSE 100 stocks undertaken through the automated computer rather than through market-makers declined on Oct 21, 1997, from 42% to 34%, but rose again on Oct 22, 1997, to around 40%. Some dealers reported that it was impossible to trade in some stocks.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
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The end of Liffe as we know it
Article Abstract:
Screen-based electronic trading is to replace open outcry trading at the London International Financial Futures and Options Exchange (Liffe). This is because open outcry trading is not very cost-effective and also places restrictions on the number of people able to trade. Open outcry traders will now have to adapt to the new market conditions. This could cause them problems, as trading on a screen demands much deeper knowledge of how a market works than open outcry trading does.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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City braces for a new order with advent of Big Bang 2
Article Abstract:
The London Stock Exchange hopes that the introduction in Oct 1997 of order-driven computerized dealing for the UK's largest stocks will play a role in securing the position of London, England, as the financial centre of Europe. This development, known as Big Bang 2, will have a significant impact on the way in which the country's largest and most liquid stocks are purchased and sold. Most importantly, transaction costs could fall from 0.6% of the value of a deal to only 0.2%.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
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