The proof of the pudding: the effects of increased trade transparency in the London Stock Exchange
Board, John and Sutcliffe, Charles (2000) The proof of the pudding: the effects of increased trade transparency in the London Stock Exchange. Journal of Business Finance and Accounting, 27, (7-8), 887-909. (doi:10.1111/1468-5957.00338).
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Description/Abstract
The trade publication rules of the London Stock Exchange were changed on 1 January, 1996, to increase transparency. This paper investigates whether these changes affected market behaviour by examining data on 60 firms from the FTSE 100, FTSE Mid 250 and the FTSE Small Cap indices before and after this rule change. This study finds there has been a major increase in transparency, with no detrimental effects on the quality of the market. In particular, neither the volume nor the traded bid-ask spread has been adversely affected.
| Item Type: | Article |
|---|---|
| ISSNs: | 0306-686X (print) |
| Related URLs: | |
| Keywords: | transparency, London Stock Exchange, trade publication, volume, bid-ask spread |
| Subjects: | H Social Sciences > HG Finance H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management |
| Divisions: | University Structure - Pre August 2011 > School of Management |
| Item ID: | 35953 |
| Date Deposited: | 26 Jul 2006 |
| Last Modified: | 02 Mar 2012 13:29 |
| Contributors: | Board, John (Author) Sutcliffe, Charles (Author) |
| Date: | 2000 |
| Status: | Published |
| URI: | http://eprints.soton.ac.uk/id/eprint/35953 |
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