MEDIA: WHAT THE PAPERS SAY; Mixed reaction to Stock Exchange plans

There was more support for the London Stock Exhange’s announced move to a computerised order-driven trading system than expressed about the exchange’s PR performance. Nine of the ten articles to express an opinion eitherstated that an order-driven exchange is preferable, or that the new method will successfully operate alongside the existing system.

There was more support for the London Stock Exhange’s announced move to

a computerised order-driven trading system than expressed about the

exchange’s PR performance. Nine of the ten articles to express an

opinion eitherstated that an order-driven exchange is preferable, or

that the new method will successfully operate alongside the existing

system.



Only the Independent preferred the LSE’s unique quote-driven system, ‘it

is nonetheless a sad day for the City for it marks formally the

beginning of the end of its pre-eminent role’.



In opting for co-existence, the LSE was portrayed as trying to balance

competitive pressures from other exchanges, against opposition from

market-making firms. Journalists criticised this balancing act. The

Observer commented, ‘The decision to operate both dealing methods looks

like a poor compromise, while its move to set up a committee to decide

how to best work it, like further procrastination.’ This supposed

indecision may look better in hindsight, after the LSE implements the

new system.



Evaluation and analysis by CARMA International.



Cuttings supplied by Standard Press Analysts



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