London Stock Exchange consultation on the International Order Book trading service

The London Stock Exchange (“LSE”) is conducting a consultation on the market structure and trading hours for the International Order Book (“IOB”).

IOB allows direct access to securities from 44 countries from across the globe, and is the largest market in Russian instruments outside of Moscow.

The proposal is to align IOB with the Stock Exchange Electronic Trading Service (“SETS”, the LSE’s flagship electronic order book) and the Main Market and AIM securities it supports.

This would extend trading by an additional hour and include the introduction of an intra-day auction at 12 noon.

The consultation document (downloadable via the link below) should be read by:

  • Trading, Technology, Operations and Compliance staff at LSE member firms;
  • issuers of Depositary Receipts admitted to trading on IOB;
  • advisors; and
  • any other interested parties that currently use or plan to use IOB in the future.