London Stock Exchange parent exploring 24-hour – Business News
The London Stock Exchange Group is weighing whether or not to launch 24-hour trading and is trying into the practicalities of growing its trading hours, the Financial Times reported on Sunday, citing people aware of the scenario.
LSEG is “absolutely looking at it, whether it means 24-hour trading or extended trading,” one of the people instructed the newspaper, including that the exchange group was “having important commercial, policy and regulatory discussions” concerning the “ongoing topic.”
The exploration is a component of wide-ranging discussions into potential new services, one other particular person instructed the FT.
The London Stock Exchange’s parent company has struggled to draw new listings, prompting reforms final yr to make it more aggressive with New York and the European Union after Brexit. REUTERS
LSEG had no remark.
The group is contemplating points of prolonged trading hours, together with technology upgrades, regulatory questions, potential results on firms with twin listings and the potential impression on liquidity, at present concentrated on the open and shutting public sale of the trading day, the report added.
In March, Nasdaq introduced plans to introduce 24-hour trading on its flagship U.S. exchange and joined rival exchanges like Cboe Global Markets and Intercontinental Exchange, the operator of the New York Stock Exchange, in planning prolonged trading hours.
LSEG, which runs the London Stock Exchange and gives information and analytics to banks and different establishments, reported stronger than anticipated first-quarter income in May, pushed by strong growth in its markets division, and a robust efficiency throughout its different companies.
The exploration is a component of wide-ranging discussions into potential new services, one other particular person instructed the FT. Getty Images
London has struggled to draw new listings, prompting reforms final yr to make it more aggressive with New York and the European Union after Brexit and a few have moved their major itemizing to New York or picked Europe for IPOs.
Shein is working towards a itemizing in Hong Kong after its proposed London IPO stalled whereas Unilever selected Amsterdam as the first itemizing for its ice cream business Ben & Jerry’s in February.
