With twelve Market Makers already having joined, the Exchange's recently launched Larger Size Market Maker scheme (LSMM) is gaining momentum.
The voluntary scheme means participating Market Makers are obliged to make prices in larger sizes with tighter spreads in small cap and AIM securities. This can help investors and brokers reduce costs as it provides better liquidity in these securities enabling larger deals at tighter spreads.
So far, over 1,000 securities have at least 1 Larger Size Market Maker, representing 38% of those eligible for the scheme. Within the FTSE Small Cap SETSmm securities there is 71% coverage. Furthermore, the scheme has encouraged Market Makers to provide off book obligations in over three quarters of the eligible SETSmm securities. To download the latest performance statistics visit www.londonstockexchange.com/largersizemarketmaker
The following firms have joined the scheme:
| ABN AMRO BANK NV | ABNV |
| ALTIUM CAPITAL LD** | ALTI |
| EVOLUTION SECURITIES LIMITED** | EVO |
| INVESTEC BANK ( |
INV. |
| J P MORGAN SECS LD** | JPMS |
| MERRILL LYNCH INTL** | MLSB |
| MERRILL LYNCH INTL** | NUMS |
| PIPER JAFFRAY LIMITED** | PIPR |
| ROYAL BANK OF |
RBCE |
| SEYP | |
| TEATHER & GREENWOOD | TEAM |
| UBS INVESTMENT BANK | UBS. |
** Market Makers opting to be bound by screen price and size off book for all the SSMM and AMSM securities they are registered in.
For more information about the Larger Sized Market Maker scheme, please visit: www.londonstockexchange.com/largersizemarketmaker
