Press releases 2000

12 January 2000

AGREEMENT OFFERS LOW-COST MARKET ACCESS VIA PRIMARK

A new arrangement announced today (12 January) between the London Stock Exchange and market data vendor Primark paves the way for low-cost trading access to the Exchange's markets via Primark's terminals.

Vendor Access Network (VAN) connections will enable UK and overseas investment houses to trade on the Exchange using the vendor's network - as an alternative to establishing direct leased-line links to the Exchange. This brings the London market within easy reach of vendors' current clients and cuts costs for smaller firms seeking remote access to London.

Primark is the first company to gain acceptance after completing rigorous testing procedures. The Exchange is working with a number of other vendors with appropriate network coverage to offer similar services.

Under the arrangement, vendor access network providers agree to provide a level of service which maintains the integrity of the London market. According to their needs, customers will be able to choose whether to adopt the vendor's own front-end solution, or to use a custom front end supplied by a specialist software company.

Karen Young, Managing Director, Primark Real Time and Trading Business, said: "Offering access to the Exchange's markets through our existing networks and range of desktop terminals enhances the services Primark supplies to its users and keeps us at the forefront of market access and information products."

The Exchange said: "We are delighted to announce this agreement with Primark. This will allow investors both overseas and in the UK to access Europe's largest and most liquid equity market in an efficient and cost-effective manner. We look forward to welcoming further Vendor Access Network providers in the near future."

For more information on trading access, please click here.