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Part II UK Securities Markets, 4 Recognized Investment Exchanges (RIEs) and Recognized Clearing Houses (RCHs)

Bob Penn

From: Financial Markets and Exchanges Law (2nd Edition)

Edited By: Michael Blair, George Walker, Stuart Willey

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 30 September 2023

Clearing operator — Central counterparty (CCP) — Stock market and exchanges — Equity — Issue and trading of securities — Swaps — UK Financial Services Authority (FSA) — European Central Bank — Financial Services and Markets Act 2000 — Market abuse — Financial crime
4.01 This chapter summarizes and discusses the UK regulatory framework for recognized investment exchanges (RIEs) and recognized clearing houses (RCHs) under the Financial Services and Markets Act 2000 (FSMA), and considers that framework in the light of current and forthcoming European legislation. 4.02 Exchanges and clearing houses occupy a central role in the operation of markets, and in particular cash equity markets. In the UK, the London Stock Exchange (LSE) continues to dominate the listing and trading of equities, and LCH.Clearnet (formed by a merger of...
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