London Stock Exchange
The London Stock Exchange is the most important exchange in Europe and one of the largest in the world.
It lists around 2,500 companies from 68 different countries, making it the most international of all exchanges. The LSE is split into two main sections; the Main Market and the Alternative Investment Market (AIM).
The London Stock Exchange's trading hours are 8a until 4:30pm GMT.
The Main Market is solely for established high-performance companies and has strict listing requirements. Over 1,300 of the LSE's company listings trade on the Main Market with a total market cap of nearly £4 trillion.
The Alternative Investment Market on the other hand trades in small-caps, or new enterprises with high growth potential. Nearly 1,100 companies are listed on the AIM, with a total market cap of over £63 billion.
Other smaller sections include the Professional Securities Market (PSM) and Specialist Fund Market (SFM) account for around 60 companies, with a total market cap of about £6.5 billion.
London Stock Exchange
The LSE logo
Order Book For Retail Bonds
London Stock Exchange launched the Order Book for Retail Bonds (ORB) in February 2010. It's an electronic, order-driven trading service and caters for bonds from the UK government, corporates and supranationals.
ORB is the UK's only regulated retail bond platform. It was designed to give retail investors a means to access the secondary market for fixed-income securities in a way which is transparent and cost-effective way. The size of companies listed on ORB have ranged from small and medium-sized companies all the way through to large cap, FTSE 100-listed companies like HSBC, National Grid and Vodafone. The size of the bonds issued range from £25 Million to in excess of £300 Million.
There are certain conditions which have to be met before a bond can be listed on ORB. For example, the bond needs to be listed through the UK Listing Authority (UKLA) and admitted to the Main Market of London Stock Exchange. Also, the bond needs to have a market maker willing to provide two-way quotes throughout the trading day (those quotes need to meet with the minimum spread requirements). In addition, there unit size for trading bonds on ORB must be no larger that £10,000.
Major LSE Shares
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