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The proof of the pudding: the effects of increased trade transparency in the London Stock Exchange

Record type: Article

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.

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Citation

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).

More information

Published date: 2000
Keywords: transparency, London Stock Exchange, trade publication, volume, bid-ask spread

Identifiers

Local EPrints ID: 35953
URI: http://eprints.soton.ac.uk/id/eprint/35953
ISSN: 0306-686X
PURE UUID: b0d9f8e6-f2e6-4d59-b128-9850f29b4a18

Catalogue record

Date deposited: 26 Jul 2006
Last modified: 17 Jul 2017 15:46

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Contributors

Author: John Board
Author: Charles Sutcliffe

University divisions


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