Becoming a member

Benefits

Liquidity
Gain direct access to Europe's deepest pool of liquidity with trading in UK equities, International Depositary Receipts, Exchange Traded Funds and Commodities, Covered Warrants and Investment Trusts.

Products and Services
We offer a wide range of products and services to our members. Our trading services in London include SETS, our premier equities electronic trading service, IOB, our electronic order book for trading depositary receipts. We also offer real time market data services, trade reporting, and quote driven order books.

You can also gain access to Borsa Italiana and the range of products traded, from Equities, Bonds and Fixed Income to Structured Products and Derivatives by contacting our Membership Team in Milan.

Technology
The Millennium Exchange trading architecture delivers a highly scalable, agile, sub millisecond trading platform with multi-asset class functionality. It allows our customers to trade on one of the fastest, most reliable and technologically advanced markets in the world.

Community
Establish valuable new relationships in our global community of brokers and listed companies, giving you the opportunity to grow your business and company profile in parallel.

London Stock Exchange Group membership promotions

The LSE Group is pleased to announce the latest incentives for new members joining the market.

London Stock Exchange
- annual membership fee waived for the first 12 months
- initial testing session fees waived
- year one non displayed market data fee capped at £7,000
- UnaVista Data Solutions: three month no obligation free trial*
- UnaVista Post-Trade Solutions and UnaVista Reconciliations: three months free upon signing annual contract

The initiative applies to new member firms with a direct connection to London Stock Exchange order book(s) as per section 5d and 5f of the Membership Application Form.

*excludes SEDOL licenses

Borsa Italiana
For the first 12 months:
- BIt annual membership fee waived
- MTA/AIM Italia/MAC/SeDeX/ETFplus/MOT subscription fee waived
- IDEM Equity volume category fee waived
- IDEX volume category fee waived
- CC&G membership fee: 50% discount

The initiative applies to:
· New members for the membership fee waiver / discount
· New members and existing members extending their subscription to new markets for the subscription / volume category fee waiver

Group Membership
Member firms of both LSE and Borsa Italiana qualify for a savings of 20% on the standard annual membership fee.

Key Considerations

Eligibility
Membership is available to investment firms and credit institutions authorised in the European Economic Area. You may also be eligible if you are not EEA regulated and should speak with the membership team for further details. Members may be eligible for Stamp Duty Reserve Tax exemption and may apply for this as part of their application.

Connectivity
Firms can connect directly to the Exchange’s markets. The Exchange currently offers several types of connectivity options with varying levels of management and performance. These range from full host-to-host solutions to Vendor Access Network connections. Each firm will have different requirements and we can help you choose the right form of access for your firm

Clearing and Settlement
If you choose to connect directly to the Exchange you will need to have in place appropriate clearing and settlement arrangements. Members of the London Stock Exchange benefit from an efficient and competitive clearing and settlement infrastructure across its domestic and international markets. We can facilitate introductions with accredited clearing and settlement providers. For a list of these providers please click here.

Next Steps:

If you’re thinking about becoming a member please contact our Membership Team, who will be able to talk you through the benefits and key considerations for your firm.

Step 1 - Email the Membership Team or call on +44 (0)207 797 1900.

Step 2 - Decide upon the type of connectivity and trading profile you will require.

Step 3 - Complete the Membership application form and any other required documents. A Membership Consultant can assist with the required forms and advise you on completing them.

Downloads

Membership forms:
Membership Application Form (file pdf - 73 KB)
Intermediary Relief Template(file pdf - 100 KB)
Finance Act definition of intermediary and excluded business (file pdf - 12 KB)

Static Data forms:
LCH SETS CCP Static Data Form (file pdf - 108 KB)
LCH SETS CCP Static Data Form - Guidance Notes (file pdf - 66 KB)
X-clear SETS CCP Static Data Form (file pdf - 107 KB)
X-clear SETS CCP Static Data Form - Guidance Notes (file pdf - 62 KB)
IOB CCP Static Data Form (file pdf - 94 KB)
IOB CCP Static Data Form - Guidance Notes (file pdf - 48 KB)
Order Book for Retail Bonds Static Data Form (file pdf - 126 KB)
Order Book for Retail Bonds Static Data Form - Guidance Notes (file pdf - 59 KB)

Settlement forms:
Settlement Agent Declaration Form (file pdf - 22 KB)
Model B Settlement Agreement Declaration Form (file pdf - 23 KB)

Trading forms:
Order Deletion form (file pdf - 44 KB)

Pricing:
Direct Debit Mandate (file doc - 61 KB)
Membership price list effective 1 April 2011 (file pdf - 172 KB)

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