Article Abstract:
Seven European stock markets have been set up geared to growth companies, in additions to the Alternative Investment Market in the United Kingdom. There is Easdaq, covering Europe as a whole, the Noveau Marche in France, Neuer Markt in Germany, Nieuwe Market in the Netherlands, Finance in Time market in Austria, Developing Companies Market in Ireland, and EuroNM in Belgium. The new markets offer opportunities to companies that would otherwise find finance more difficult to obtain, and they have set up efficient systems for trading and settlement.
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Article Abstract:
The London Stock Exchange is launching a new trading system on Oct 20 1997 which initially only affects stocks in the 100 largest companies quoted on the stock exchange. The change involves a move from a quote-driven system to an order-driven system and should reduce average spreads which could drop to 0.2% from 0.6%. The number of market makers will be reduced but they are not likely to disappear altogether. The move means that the London exchange will confirm to practices in other major exchanges and more foreign investors should be attracted.
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Article Abstract:
UK hi-tech firms are seeking US listings and some 60 companies are represented on Nasdaq. Some UK companies have gone directly to Nasdaq rather than seek a UK listing first. Nasdaq offers analysts which have skills in assessing growth shares, and UK companies can join others involved in similar activities which allows investors to assess the industry more easily. There are some disadvantages such as the need for quarterly reporting rather than half-yearly as in the UK.
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