LSE eases rules for GEMMs

THE LONDON Stock Exchange is to relax its rules to allow gilt- edged market makers (GEMMs) to opt out of dealing in index-linked government stock.

The exchange plans next month to introduce a new, separate register of GEMMs which trade in index-linked stock. Now all registered GEMMs have to trade in all classes of gilt-edged stock.

The new rules mean GEMMs can register for index-linked stock, for all conventional gilts, or all gilts.