| 单词 | London Stock Exchange |
| 释义 | London Stock Exchange The market in London that deals in securities. Dealings in securities began in London in the 17th century. The name Stock Exchange was first used for New Jonathan's Coffee House in 1773, although it was not formally constituted until 1802. The development of the industrial revolution encouraged many other share markets to flourish throughout the UK, all the remnants of which amalgamated in 1973 to form the Stock Exchange of Great Britain and Ireland. After the Big Bang in 1986 this organization became the International Stock Exchange of the UK and Republic of Ireland Ltd. Its major reforms included: (i) allowing banks, insurance companies, and overseas securities houses to become members and to buy existing member firms; (ii) abolishing scales of commissions, allowing commissions to be negotiated; (iii) abolishing the division of members into jobbers and brokers, enabling a member firm to deal with the public, to buy and sell shares for their own account, and to act as market makers; (iv) the introduction of SEAQ, a computerized dealing system that has abolished face-to-face dealing on the floor of exchange. In merging with members of the international broking community in London, the International Stock Exchange became a registered investment exchange. The International Stock Exchange provides two markets for companies: the main market for listed companies and the Alternative Investment Market (AIM). The International Stock Exchange formerly provided a market in traded options but this has now moved to the London International Financial Futures and Options Exchange. |
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