EDX shuns OTC market

07 Nov 2005

Despite posting improved results across its EDX London derivatives operation, London Stock Exchange (LSE) said in its half year results that it would no longer pursue growth in its OTC equity derivatives market.

The exchange said,...

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"While we support its overall direction, a number of the requirements in the review are needlessly oppressive, particularly the proposed limits on execution-only business and bilateral execution. Additionally, the swathe of costly disclosure obligations is more likely to confuse than inform customers.”

The FOA's Anthony Belchambers responds to the EC's Mifid review.