London EC4M 7LS
Telephone +44 (0)20 7797 1000
www.londonstockexchange.com
22 September 2004
Service Announcement
Trading and London Market Information Link (LMIL)
September Release
Live Date: 27 September 2004
The purpose of this Service Announcement is to provide final confirmation of security information and also to remind customers of the extension to the end of day period.
International Market Development
The Exchange is restructuring the International Market to include 3 new segments, the International Retail Service (Non ISD regulated market) (IRSU), the International Bulletin Board (Non ISD regulated market) (ITBU), and the International Order Book (Non ISD regulated market) (IOBU). The existing IOB, IRSQ, ITBB segments will be restructured to incorporate new sectors and securities. As a result of these changes all the existing SEAQ International quote driven segments (EULQ, NLLD, LSTD and OINT) will be deleted.
Securities which are being amended as part of the September release can be found in Appendix A.
Rebased Pricing
It has been standard market practice for some instruments to be quoted in thousands of Yen on SEAQ International. With the move of these instruments to ITBB on 27th September, the actual price will now be disseminated. This should be noted when comparing historic processes against the prices disseminated on the news services and any automatic quotation systems will need to adjust to this. The instruments affected are as follows
ISIN / Instrument NameJP3783600004 / East Japan Railway Co
JP3726800000 / Japan Tobacco Inc
JP3902900004 / Mitsubishi Tokyo Financial
JP3885780001 / Mizuho Financial Group Inc
JP3735400008 / Nippon Telegraph & Telephone
JP3890350006 / Sumitomo Mitsui Financial GR
JP3944300007 / UFJ Holdings Inc
Customers are also reminded that all closing prices will be re-disseminated after the reference data changes have been made. Customers are strongly advised to take 5SK messages which will be disseminated via B23, B26, B29, and B30.
Exchange Traded Funds (ETFS)
The Exchange is restructuring the existing ETFS segment to facilitate market maker support. ETFS will move to a SETSmm model, whereby market making arrangements will be formalised bringing greater transparency and better liquidity provision to the service.
Due to limitations placed on potential market makers 2 maximum spread regimes are to be applied. Liquid ETFS will operate with a 1.5% maximum spread and some less liquid ETFS will operate on a 3% maximum spread. As a result of this 2 new sectors will be applied to ETFS.
Securities which are being amended as part of the September release ETFS restructuring can also be found in Appendix A.
End of Day
As a contingency measure, the end of day period will be extended to 23:00hrs on 24th September 2004, however, the changes are expected to be completed well before this time. A service announcement will be issued when all the changes have been completed.
The Exchange’s website will be used to keep customers up dated with the status of reference data changes. Customers are strongly advised to refer to this status page at the following address:
http://www.londonstockexchange.com/en-gb/products/membershiptrading/tradingservices/septrelease/progress.htm
Administration
Customers will receive a series of 5OA (tradable Instrument) and 5OB (Tradable Instrument/Currency/Market Segment) messages for each addition and deletion on Friday 24 September 2004.
Customers are advised to take either the Reference Data Changes service Broadcast Data groups B07,B11 and B42 on Friday 24 September or to take the Full Reference Data Download B06, B40 and B41 on Monday 27 September 2004.
Customers are also requested to delete all orders in the IOB and ETFS segment by close of business on Friday 24 September 2004. Any orders remaining on the book will be deleted by the Exchange during the admin period.
Additional Information
If you have any queries or require further information please contact your account manager or the Technical Information Desk on 020 7797 3939 (STX 33939).
An archive of previously issued service announcements is available on the Exchange’s website at www.londonstockexchange.com/techlib
If you would like to amend or add further recipients of service announcements, please send the revised email contact details to .
If you have any queries or require further information please contact your account manager or the Technical Information Desk on 020 7797 3939 (STX 33939).
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