Article Abstract:
The United Kingdom stock exchange has introduced a new trading system which can bring problems for investors dealing early in the morning. This is a popular time for private investors, but thin volumes mean that prices may be unfavorable at this time. The Stock Exchange is assessing whether this is a long-term problem or merely a result of changing the system. Trading volumes are likely to increase, which should help ease volatility. Investors may need to wait until later in the day while the system settles down.
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Article Abstract:
The London Stock Exchange is proposing to extend its SETS order-driven trading system to cover companies listed in the FTSE 250 index. John Hall, the managing director of Brewin Dolphin, a major private client stockbroker, argues that SETS does not function well for low volumes and should not be extended beyond stocks for companies in the FTSE 100 index. The trade body for stockbrokers, Apcims, is receiving complaints about SETS from members, according to Apcims head of compliance, Katherine Armstrong.
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Article Abstract:
Tradepoint was set up in 1995 as a recognised investment exchange offering an efficient and cheap alternative to phone trading. There are some 85 full members such as institutional investors and stockbrokers. Tradepoint's business is valued at some 35 million pounds sterling per day, while the London Stock Exchange handles a turnover of some 3 billion pounds sterling. Fund managers can benefit from direct access, rather than having to employ stockbrokers.
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