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Becoming a member


Why become a member?

Benefits

As a member firm you can trade in a range of financial products directly on our trading platforms, including UK cash equities and Exchange Traded Products on SETS, depositary receipts on the International Order Book and bonds on the Order Book for Retail Bonds.

In addition, LSE membership is a gateway to:
  • Europe’s deepest pool of liquidity and investor base with lowest latency
  • A network of major international financial organisations and listed companies
  • Financial incentives for brokers, market makers and proprietary traders
  • Reduced real time data fees
  • Possible relief from Stamp Duty Reserve Tax

Access to Europe’s leading exchanges and trading platforms
 
  • LSE member firms can have ‘fast track’ access to Borsa Italiana and Turquoise
  • LSE, Borsa Italiana and Turquoise markets are supported by Millennium Exchange, a highly scalable, agile, sub millisecond trading platform with multi-asset class functionality
  • Members of both LSE and Borsa Italiana qualify for a 20% discount on the standard annual membership fee

How to become a member

Eligibility

  • LSE membership is available to companies only; applications from individuals cannot be accepted
  • Membership applicants should be authorised as an investment firm or credit institution by a regulatory authority in the European Economic Area (European Union, Iceland, Liechtenstein and Norway)
  • Firms authorised in other jurisdictions or non-authorised firms may also apply for membership in certain circumstances
  • All member firms need to understand and comply with the London Stock Exchange’s Rules

Clearing and Settlement

  • LSE member firms need to have appropriate clearing and settlement arrangements in place for their trading activities
  • We offer a choice of central counterparties that you can access directly or via a third party provider
  • The Membership Team can provide contact details of accredited clearing and settlement providers on LSE markets. Please click here for a list of providers

Connectivity

We offer a range of solutions to connect to LSE markets with different levels of management and performance:

  • Hosting: locate your servers within the Exchange’s data centre, with ultra low microsecond access to our trading matching engines and market data feeds
  • Extranex: a dedicated point to point connection for market data and trading with technical reliability
  • Network Service Providers (NSPs): carriers of Exchange information feeds and trading services to our end-clients. This is an alternative to the Extranex network with similar technical features
  • Vendor Access Network Providers (VAN): accredited providers of connectivity and pre-conformed software applications

Get started!

Become a member in only three steps:

  1. Contact the Membership Team to discuss your market access connectivity and post-trade arrangements
  2. Email your Membership Application Form, Trading Services Order Form and supporting documents to the Membership Team
  3. Complete testing activities for your live trading connection; upon membership approval you will arrange a live date with the Membership Team

Downloads

Membership & Trading forms:

Membership Application Form
Trading Services Order Form
Trading Services - User Terms and Conditions
Recognised Intermediary Application Form
Finance Act definition of intermediary and excluded business

Static Data forms:
International Board CCP Static Data Form (pdffile pdf - 198 KB)
IOB CCP Static Data Form (pdffile pdf - 263 KB)
LCH SETS CCP Static Data Form (pdffile pdf - 108 KB)
X-clear SETS CCP Static Data Form (pdffile pdf - 107 KB)
Order Book for Retail Bonds Static Data Form (pdffile pdf - 126 KB)
 
Settlement forms:
Settlement Agent Declaration Form (pdffile pdf - 22 KB)
Model B Settlement Agreement Declaration Form (pdffile pdf - 23 KB)

Pricing:
Direct Debit Mandate (docfile doc - 61 KB)
Membership price list effective 1 April 2014 (pdffile pdf - 185 KB)
For details on trading prices and polices please click here.

Panel on Takeovers and Mergers:
Takeover Panel levy quarterly remittance form (pdffile pdf - 1 MB)

 

 

Contact us
contact us

Membership Team
+44 (0)20 7797 1900
STX 31900
membership@londonstockexchange.com

 



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