London Stock Exchange

an institution in London, England, established in the 18th century, which allows trading in stocks and shares (= parts of the total value of a company). Since the Big Bang in 1986 trading has taken place using computers and telephones, rather than in the offices of the Stock Exchange itself.

See also New York Stock Exchange, Stock Exchange Automated Quotations.

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London marketplace for securities.

It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. In 1801 its members raised money for construction of a building in Bartholomew Lane; they established rules for the exchange the following year. In 1973 the London Stock Exchange merged with several regional British stock exchanges. In 1991 the exchange replaced its governing council with a board of directors, and it became a public limited company.

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▪ British company

      a London marketplace (market) for securities (security). It lies in the vicinity of the Bank of England (England, Bank of) and the Royal Exchange, in the heart of the City of London (London, City of). The market was formed in 1773 by several stockbrokers who had been doing business informally in neighbourhood coffeehouses. In 1801 a group of members raised money for the construction of a building in Capel Court, Bartholomew Lane, and rules for the exchange were established soon afterward; the rules subsequently have been amended several times. In 1973 the exchange merged with several regional stock exchanges in Great Britain, and in 1986 its operations were reorganized and an automated price-quotation system introduced.

      The exchange became a public limited company, London Stock Exchange PLC, in 2001—the year of its bicentennial.

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