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), pp. 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
Digital Object Identifier (DOI): doi:10.1111/1468-5957.00338
ISSNs: 0306-686X (print)
Keywords: transparency, London Stock Exchange, trade publication, volume, bid-ask spread
Subjects:
ePrint ID: 35953
Date :
Date Event
2000Published
Date Deposited: 26 Jul 2006
Last Modified: 16 Apr 2017 22:07
Further Information:Google Scholar
URI: http://eprints.soton.ac.uk/id/eprint/35953

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