旅游管理专业英语第二版 段开成讲义Lesson11 London Stock Exchange.doc

London Stock Exchange (LSE)It is 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. In merging with members of the international broking community in London, the International Stock Exchange became a registered investment exchange and The Securities Association Ltd became a Self Regulating Organization (SRO) complying with the Financial Services Act (1986). It provides two markets for companies: the main market for listed companies and the Alternative Investment Market (AIM). The London Stock Exchange (LSE) is one of the largest stock exchanges in the world, with many overseas listings as well as UK companies.The former Stock Exchange Tower, based in Threadneedle Street/Old Broad Street was opened by the Queen Elizabeth II in 1972 and housed the Trading Floor where traders would traditionally meet to conduct business. This became largely redundant with the advent of the "Big Bang" on 27 October 1986, which deregulated many of the Stock Exchanges activities. It eliminated fixed commissions on security trades and allowed securities firms to act as brokers and dealers. It also enabled an increased use of computerised systems that allowed dealing rooms to take precedence over face to face trading.In July 2004 the London Stock Exchange moved from Threadneedle Street to Paternoster Square (EC4) close to St Pauls Cathedral, still within the "Square Mile" (the City of London). It was officially opened by Queen Elizabeth II once again, accompanied by The Duke of Edinburgh, on 27 July 2004. The new building contains a specially commissioned dynamic sculpture called "The Source", by artists Greyworld.The FTSE actuaries series of indices tracks the performance of the London market.Shares in the LSE trade under the ticker symbol LSE. Listed companies 2,749 (For details, refer to )。