London exchange to cut ‘tick size’ on some stocks
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The London Stock Exchange plans to cut the minimum size of price changes permitted on some stocks on its markets, a move aimed at reducing trading costs.
The so-called tick size on FTSE 100 stocks priced between 10 pence and 199.9 pence will fall to 0.1 pence from 0.25 pence starting March 19.
The calculation will take place in real time depending on the share price.
The London exchange, Europe’s biggest stock exchange by market value of companies it lists, this year defeated a second hostile takeover attempt from Nasdaq Stock Market Inc.
The exchange said a boom in trading would enable it to stay independent and pursue “competitive, collaborative and strategic opportunities.”
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