LSE launches consultation on changes to its rulebook

Daily news headlines

The London Stock Exchange (LSE) is consulting on proposed changes to its rulebook to accommodate the Markets in Financial Instruments Directive (Mifid).

The main features of the proposed new rules include: a 50% reduction in the number of rules and definitions; amendment of the scope of the on-exchange rule; the removal of transaction reporting rules; a reduction of order book trading rules to around 15 rules; consolidation of off-order-book trading rules into around 60 rules; consolidation of market-making rules into one section (including gilt-edged and fixed interest market making); creation of a single section combining settlement, clearing and benefit rules; no change to compliance procedures; and minor changes to the default procedures.

The LSE has also published a tracker document that lists every definition and rule pointing out whether they are being kept or deleted.

The deadline for comments on this consultation is September 10, 2007. Subject to feedback received, the LSE proposes to issue a rules confirmation notice during September 2007, with the rules coming into force on November 1, 2007.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here