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Definitions


The Rules of the London Stock Exchange incorporate a set of defined terms. These are typically used to ensure rules are kept concise and to standardised commonly referenced terms and subjects. Most rules will reference at least one defined term, each identified by bold text. Hence to ensure full understanding of any particular rule will require a cross reference with the definitions section at the beginning of the Rulebook.
 
For example Rule 1100 states "A member firm may act as, or use the services of, a settllement agent to settle on Exchange business" and the following definitions apply:
 
member firm               a partnership, corporation, legal entity or sole practitioner admitted to Exchange membership and whose
                                        membership has not been terminated. For the purposes of the compliance procedures, member firm shall
                                        include a former member firm where appropriate

settllement agent       a person providing settlement services
 
on Exchange               a trade executed under the Rules of the Exchange as defined by rules 2000 & 3000
 
It should be noted that the definition itself may contain defined terms which would also need to be crossed referenced within the definitions.
 
The definitions are contained at the start of the Rule book and are available from the downloads below.
 
Downloads

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