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.
- 4 #JeSuisEd: People share photos of themselves eating awkwardly in solidarity with Labour leader
- 5 Women think Irish men are the sexiest, survey finds
In defence of liberal democracy
General Election 2015: Post-election 'shambles' looms as 70 per cent of voters say SNP 'should not be able to veto UK government policies'
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
General election live: SNP suspends two members for disrupting Labour rally
General Election 2015: Sturgeon claims Scots 'appalled' by Ed Miliband's refusal to work with SNP
iJobs Money & Business
£60000 - £70000 per annum + benefits : Ashdown Group: A highly successful, glo...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
£27 - 35k + Bonus + Benefits: Guru Careers: A Management Accountant is needed ...
£40-50k + Benefits.: Guru Careers: A Project Manager / Business Analyst is nee...