Press releases 2004

25 May 2004

EUROSETS Dutch Trading Service goes live with 150,000 orders

The London Stock Exchange’s EUROSETS Dutch Trading Service got off to a good start today with 150,000 orders entered into its order book. Over the course of the day, 28 different firms traded in 40 of the 49 Dutch securities being offered as part of its new trading service.

By close of business, the Exchange had attracted seven per cent order book market share in Royal Dutch, as well as seven per cent in Wolters Kluwers, four per cent in Unilever, and nine per cent in Imtech.   For the AEX and AMX as a whole, order book trades with a value of €32.6 million, representing an order book market share of around 2.34 per cent, were traded on EUROSETS.

In addition to on-book, the Exchange offers firms the choice to conduct business off-book.  This business is carried out under the London Stock Exchange’s rules, subject to full post-trade transparency ands provides the Dutch market with an alternative means of trading in Dutch securities. Off-book business amounted to an additional 747 trades with a value of €583 million.

Over the course of the coming days and weeks, as some firms resolve a few outstanding software issues and others begin to use order routing engines, there will be further scope for volumes to increase from this good start.  

Commenting on the first day’s trading, Martin Graham, the Exchange’s Director of Market Services, said:

"We are delighted that so many customers have chosen to use EUROSETS on its first day of live service.  It's a testament to their efforts over the last few months to prepare for this service, and to their desire for choice of exchange services in the Dutch market.  We look forward to more firms joining in the coming weeks, and to the inclusion of smart order routing in the near future."

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For further information, please contact:

John Wallace

Press Office  +44 (0)20 7797 1222

newsroom@londonstockexchange.com