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Founded in 1801, London Stock Exchange is one of the oldest stock exchanges of the world, providing efficient service to both small and giant companies.
London Stock Exchange is one of the largest stock exchanges of the world. The stock exchange was found on 3 March 1801. Before 1801 it was known as “New Jonathan's”. The brokers who used to run an organized trading market previously founded this stock exchange. The new London Stock Exchange was established on the basis of formal membership subscription.
Location of London Stock Exchange:
London Stock Exchange was housed in a building in Sweeting's Alley. In 1802, the stock exchange was relocated in a new building in Chapel Court. It was rebuilt in 1854. A revised Deed of Settlement for the Stock Exchange was introduced in 1876. It underwent a period turmoil during the World War I. In 1923, the stock exchange obtained its Coat of Arms. The exchange was again damaged during the Second World War.
A new 26 storey office block of the London Stock Exchange was inaugurated by the Queen in 1972. It incorporated the Irish and British regional exchanges. According to the Companies Act 1985 it became a private limited company.
History of London Stock Exchange:
In 1991, the Board of Directors of this stock exchange was formed. A few years later in 1997 both
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the SETS (Stock Exchange Electronic Trading Service) and the CREST settlement service were introduced. It became a Financial Services Authority from UK Listing Authority in 2000. In 2003, London stock exchange in partnership with OM group has come up with an equity derivative index called "EDX London", where international equities are tradeable.
In 2004, the headquarters of the London stock exchange was shifted to Paternoster Square. In 2007, the Borsa Italiana amalgamated with the London Stock Exchange providing one of the best equity platforms in England.
Functions of London Stock Exchange:
London Stock Exchange provides support to small as well as reputed companies to raise the capital. The Main Market is preferred by giant companies while the small companies usually go for the AIM Market. The Special Fund Market is there to support the specialized investment companies. On the other hand, special security issues are listed in the Professional Securities Market.
The London Stock Exchange offers a suitable market for trading different kinds of securities such as debt, covered warrants, reits, fixed interests, international equities, exchange traded finds and so on. The TradElect was introduced in 2007 by the London Stock Exchange. This new trading system offers more efficient service.
London Stock Exchange offers data information, news related to the stock market and so on.
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