10.1 The Structure of the UK Securities Market


10.1.1 The UK and the London Stock Exchange (LSE)

The UK is a Major Financial Centre

The Global Financial Centres Index (GFCI) shows London is still the leading financial centre overall, although its lead over New York has narrowed, with Hong Kong close behind. The listing is based upon various metrics related to the volume of transactions, amount of capital raised and traded, and various qualitative issues 

The London Stock Exchange (LSE)

Combined market capitalisation of approximately £4.4 trillion across more than 2,600 listed companies. It operates in the following primary areas:

  • Equity markets and primary issuance

  • Trading services

  • Information services

  • Multilateral trading facilities and derivatives

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10.1.2 Regulatory Structure of the UK Market

The main regulatory, supervisory and trade body framework supporting UK financial markets consists of the following:

  • The Bank of England (BoE), including the Financial Policy Committee (FPC).

  • The Companies Act 2006.

  • The Financial Conduct Authority (FCA).

  • The Prudential Regulation Authority (PRA).

  • The UK Listing Authority (UKLA).

  • HM Treasury.

  • The Takeover Panel (POTAM).

  • Exchange membership and rules.

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