Reuters warns of threat to share-dealing revolution
Monday 18 December 1995
Reuters, which would supply a large portion of the links between the dealers and the Exchange, said the complicated technology needed a clear decision or there could be no commitment to the August timetable put forward by the Exchange. "We won't commit to a date until we can see what the market really wants," said John Parcell, managing director of Reuters UK.
The pressure was stepped up as Reuters introduces today a capacity enabling traders to deal in smaller companies shares directly on the London Stock Exchange through an order-matching system.
This enables the Exchange to fight back against its fledgling rival, Tradepoint, which in September opened the first alternative exchange, using an electronic order-driven system. This automatically and anonymously matches buy and sell orders, cutting out the market-making middlemen who have run the Stock Exchange's traditional quote-driven dealing system.
The Stock Exchange has set 27 August 1996 as the date for introducing a state-of-the-art order-driven capability, which could mean two dealing systems competing for the same stocks. But some of the Exchange's most powerful members, the big market-making firms, are resisting this for fear that it will put them out of business.
- 1 The truth about 'girl things': Three cheers for Heather Watson's honesty
- 2 Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
- 4 Tennis fan suing Australian Open organisers for 'failing to shade spectators' during Murray match
- 5 Syrian refugee child beaten by Istanbul Burger King manager for eating customer’s leftover food
Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Rob Lowe hits out at White House decision not to meet Israeli leader
Iraq invasion 2003: The bloody warnings six wise men gave to Tony Blair as he prepared to launch poorly planned campaign
Winston Churchill: From accusations of anti-Semitism to the blunt refusal that led to the deaths of millions
British Muslim leaders outraged after Eric Pickles says followers of Islam should 'prove their identity'
UK terror fears: My jihadist son returned from Syria mentally scarred – now he is being ignored
Nigel Farage: NHS might have to be replaced by private health insurance
Billy Crystal: 'Stop shoving gay sex scenes in my face'
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
iJobs Money & Business
Negotiable: Recruitment Genius: A Tax Assistant is required to join a leading ...
£16000 - £25000 per annum: Recruitment Genius: This is an exciting opportunity...
£45000 - £47000 per annum + bonus + benefits: Ashdown Group: Java Developer / ...
£35000 - £38000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...