Speaking at her first APCIMS Annual Conference, Clara Furse, Chief Executive of the London Stock Exchange, laid out the Exchange's commitment to reform of the UK equity market.
In her speech, Mrs Furse drew attention to a clear four-point programme of change for the UK equities market, which includes investing in infrastructure, and increasing the choice of markets.
In terms of its investment in infrastructure, Furse mentioned the Exchange's plans to offer CREST network provision in the coming year, which will effectively mean that brokers will be able to access the Exchange and CREST through one electronic link. This could reduce message trafficking costs by as much as 40-50 per cent. Industry wide, the Exchange's research shows that it could save up to £15 million per annum.
Furse also referred to the Exchange's RSP Gateway initiative, which aims ultimately to connect all brokers and all RSPs, delivered - significantly - on a utility basis.
The Exchange aims to create value for shareholders by increasing the value of its services to customers. It is fully committed in its customer focus to delivering a broader range of products and an improved package of services.
Concluding, Furse said:
"I look forward to working with you through the APCIMS network, through our Private Client Broker Group and through regular customer meetings. You will have gauged that the Exchange is focussed on an ambitious agenda built around a commitment to maximising the value we deliver to our customers."
