59-556: Sir Montague Maurice Burton (15 August 1885 – 21 September 1952) was the founder of Burton Menswear , one of Britain's largest chains of clothes shops. Born Meshe David Osinsky and a Lithuanian Jew in Kurkliai , Kaunas province, he came alone to the UK in 1900 to escape the Russian pogroms . He was well-educated, having studied in a yeshiva , but arrived unable to speak English. In 1901, he
118-408: A V-2 rocket . Nonetheless, trading continued in the house's basement. After decades of uncertain if not turbulent times, stock market business boomed in the late 1950s. This spurred multiple officials to find new, more suitable accommodation. The work on the new Stock Exchange Tower began in 1967. The Exchange's new 321 feet (98 metres) high building had 26 storeys with council and administration at
177-580: A board of directors drawn from the Exchange's executive, customer, and user base; and the trading name became "The London Stock Exchange". The FTSE 100 Index (pronounced "Footsie 100") was launched by a partnership of the Financial Times and the Stock Exchange on 3 January 1984. This turned out to be one of the most useful indices of all, and tracked the movements of the 100 leading companies listed on
236-572: A clause preventing "unchartered" companies from forming. After the Seven Years' War (1756–1763), trade at Jonathan's Coffee House boomed again. In 1773, Jonathan, together with 150 other brokers, formed a club and opened a new and more formal "Stock Exchange" in Sweeting's Alley. This now had a set entrance fee, by which traders could enter the stock room and trade securities. It was, however, not an exclusive location for trading, as trading also occurred in
295-716: A dinner in Leeds on 21 September 1952. The funeral was at the Harrogate Synagogue (some sources say Chapeltown) and he was interred at Gildersome . However, he and his wife were reinterred in 1964 at Stonefall Jewish cemetery, Harrogate , the first to be buried there. Burton endowed chairs in industrial relations in the University of Leeds and Cardiff in 1929 and Cambridge in 1930. He also endowed chairs of international relations in Jerusalem (1929), and at Oxford University (1930),
354-484: A few doors along the same street in order to acquire the corner site. Leeds-based architect Harry Wilson was hired at this time and developed the Burton "house style" building design. In 1931 Burton took over Wilson's practice to make it the in-house architecture department. Wilson was replaced as chief architect by Nathaniel Martin in 1937. This Burton in-house architecture was Art Deco in style. Individual stores vary from
413-403: A regulated stock market, which had teething problems in the shape of unlicensed brokers. In order to regulate these, Parliament passed an Act in 1697 that levied heavy penalties, both financial and physical, on those brokering without a licence. It also set a fixed number of brokers (at 100), but this was later increased as the size of the trade grew. This limit led to several problems, one of which
472-608: A style of moustache worn by founder Montague Burton, through their support of the Movember campaign in order to raise money for The Prostate Cancer Charity. The "Burton" moustache was styled upon two influential moustache types, the English and the Handlebar. London Stock Exchange The London Stock Exchange ( LSE ) is a stock exchange based in London , England. As of August 2023,
531-477: A thousand members quit the Exchange between 1914 and 1918. When peace returned in November 1918, the mood on the trading floor was generally cowed. In 1923, the Exchange received its own coat of arms , with the motto Dictum Meum Pactum , My Word is My Bond. In 1937, officials at the Exchange used their experiences from World War I to draw up plans for how to handle a new war. The main concerns included air raids and
590-565: Is a British online clothing retailer, former high street retailer and clothing manufacturer, specialising in men's clothing and footwear. The company was a constituent of the FTSE 100 Index , but became a trading name of Arcadia Group Brands Ltd , part of the Arcadia Group . Sir Philip Green acquired the Arcadia Group in 2002, and it became the sole owner of Burton. In 2021, Boohoo.com acquired
649-544: Is classified as a Multilateral Trading Facility (MTF) under the 2004 MiFID directive, and as such it is a flexible market with a simpler admission process for companies wanting to be publicly listed. The securities available for trading on LSE: Through the Exchange's Italian arm, Borsa Italiana , the London Stock Exchange Group as a whole offers clearing and settlement services for trades through CC&G (Cassa di Compensazione e Garanzia) and Monte Titoli.
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#1733086132911708-665: Is the Groups Central Counterparty and covers multiple asset classes throughout the Italian equity, derivatives and bond markets. CC&G also clears Turquoise derivatives. Monte Titoli is the pre-settlement, settlement, custody and asset services provider of the Group. Monte Titoli operates both on-exchange and OTC trades with over 400 banks and brokers. The LSE's trading platform is its own Linux -based edition named Millennium Exchange . Their previous trading platform TradElect
767-574: The Antwerp Bourse . It was opened by Elizabeth I of England in 1571. During the 17th century, stockbrokers were not allowed in the Royal Exchange due to their perceived rude manners. They had to operate from other establishments in the vicinity, notably Jonathan's Coffee-House . At that coffee house, a broker named John Castaing started listing the prices of a few commodities including salt, coal, paper, and exchange rates in 1698. Originally, this
826-612: The First World War . By 1913 Burton had five men's tailor shops with headquarters in Sheffield and manufacturing in Leeds . He had four hundred shops, factories, and mills, by 1929, when the company went public. His firm made a quarter of the British military uniforms during World War II and a third of demobilisation clothing. Burton declined the offer to be Lord Mayor of Leeds in 1930 but
885-597: The London School of Economics and Political Science (LSE) (1936) and The University of Edinburgh (1948). He is commemorated in the Montague Burton Residences , which are student flats at the University of Leeds . He wrote the foreword to the seminal work on the business successes of the Quakers : Quakers in commerce: A record of business achievement (1940) by Paul H Emden. Burton Menswear Burton
944-401: The "Spanish panic" hit the markets, followed by a second one two years later. By June 1853, both participating members and brokers were taking up so much space that the Exchange was now uncomfortably crowded, and continual expansion plans were taking place. Having already been extended west, east, and northwards, it was then decided the Exchange needed an entire new establishment. Thomas Allason
1003-409: The 2020 Office for National Statistics report, approximately 12% of UK-resident individuals reported having investments in stocks and shares. According to a 2020 Financial Conduct Authority report, approximately 15% of British adults reported having investments in stocks and shares. The Royal Exchange had been founded by English financier Thomas Gresham and Sir Richard Clough on the model of
1062-521: The British government for demobilising servicemen, comprising jacket, trousers, waistcoat, shirt and underwear. It has been speculated that this is the origin of the phrase " the full monty ". In 1946, the company acquired the Peter Robinson department store chain. Montague Burton died in 1952. By this time, the company was the largest multiple tailor in the world. The company expanded by purchasing various other brands, including competitors until it
1121-723: The Electronic Trading Service (SETS) was launched, bringing greater speed and efficiency to the market. Next, the CREST settlement service was launched. In 2000, the LSE's shareholders voted to become a public limited company, London Stock Exchange plc. The LSE also transferred its role as the United Kingdom's listing authority to the Financial Services Authority . EDX London , an international equity derivatives business,
1180-450: The Exchange was progressively becoming an accepted part of the financial life in the city. In spite of continuous criticism from newspapers and the public, the government used the Exchange's organised market (and would most likely not have managed without it) to raise the enormous amount of money required for the wars against Napoleon. After the war and facing a booming world economy, foreign lending to countries such as Brazil, Peru and Chile
1239-575: The Exchange. On 20 July 1990, a bomb planted by the Provisional Irish Republican Army (IRA) exploded in the men's toilets behind the visitors' gallery. The area had already been evacuated and nobody was injured. About 30 minutes before the blast at 8:49 a.m., a man who said he was a member of the IRA told Reuters that a bomb had been placed at the exchange and was about to explode. Police officials said that if there had been no warning,
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#17330861329111298-508: The LSE merged with Borsa Italiana , creating London Stock Exchange Group (LSEG). The Group's headquarters are in Paternoster Square . Paternoster Square was the initial target for the protesters of Occupy London on 15 October 2011. Attempts to occupy the square were thwarted by police. Police sealed off the entrance to the square as it is private property, a High Court injunction having previously been granted against public access to
1357-679: The LSE: the main market and the alternative investment market. The main market is home to over 1,300 large companies from 60 countries. The FTSE 100 Index ("footsie") is the main share index of the 100 most highly capitalised British companies listed on the Main Market. The Alternative Investment Market is LSE's international market for smaller companies. A wide range of businesses including early-stage, venture capital -backed, as well as more-established companies join AIM seeking access to growth capital. The AIM
1416-547: The Rotunda of the Bank of England. Fraud was also rife during these times and in order to deter such dealings, it was suggested that users of the stock room pay an increased fee. This was not met well and ultimately, the solution came in the form of annual fees and turning the Exchange into a Subscription room. The Subscription room created in 1801 was the first regulated exchange in London, but
1475-586: The brand after Arcadia went into administration . There were over 400 stores in the UK. The company was founded by Sir Montague Maurice Burton in Chesterfield in 1903 under the name of The Cross-Tailoring Company. It was first listed on the London Stock Exchange in 1929 by which time it had 400 stores, factories and mills. After World War II , Montague Burton was one of the suppliers of demob suits to
1534-458: The committee and Parliament , respectively. The Stock Exchange ended up being closed from the end of July until the New Year, causing street business to be introduced again, as well as the "challenge system". The Exchange was set to open again on 4 January 1915 under tedious restrictions: transactions were to be in cash only. Due to the limitations and challenges on trading brought by the war, almost
1593-543: The company in 2002. The Burton company archives are held at the West Yorkshire Archive Service in Leeds. In July 2020, Arcadia Group, which comprised several brands including Burton, had been hit hard by the COVID-19 lockdown and planned hundreds of job cuts to minimise costs. As financial difficulties worsened, Arcadia entered administration on 30 November 2020. In February 2021, Boohoo.com announced it
1652-461: The concerns for air raids were greater than ever. Eventually, on the night of 29 December 1940, one of the greatest fires in London's history took place. The Exchange's floor was hit by a clutch of incendiary bombs , which were extinguished quickly. Trading on the floor was now drastically low and most was done over the phone to reduce the possibility of injuries. The Exchange was only closed for one more day during wartime, in 1945 due to damage from
1711-459: The earliest evidence of organised trading in marketable securities in London. After Gresham's Royal Exchange building was destroyed in the Great Fire of London , it was rebuilt and re-established in 1669. This was a move away from coffee houses and a step towards the modern model of stock exchange. The Royal Exchange housed not only brokers but also merchants and merchandise. This was the birth of
1770-508: The financial industry "and the corrosive impacts of the ... sector on the world we live in" and activists also blocked entrances to HM Treasury and the Goldman Sachs office on Fleet Street . On 3 March 2022 the LSE declared it would suspend trading in GDR securities for Russian firms, subsequent to the 2022 Russian invasion of Ukraine . There are two main markets on which companies trade on
1829-617: The financial markets in the UK in 1986. The phrase "Big Bang" was coined to describe measures, including abolition of fixed commission charges and of the distinction between stockjobbers and stockbrokers on the London Stock Exchange, as well as the change from an open outcry to electronic, screen-based trading . In 1995, the Exchange launched the Alternative Investment Market , the AIM, to allow growing companies to expand into international markets. Two years later,
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1888-526: The floor. Second, in March the London Stock Exchange formally merged with the eleven British and Irish regional exchanges, including the Scottish Stock Exchange . This expansion led to the creation of a new position of chief executive officer ; after an extensive search this post was given to Robert Fell. There were more governance changes in 1991, when the governing Council of the Exchange was replaced by
1947-481: The human toll would have been very high. The explosion ripped a hole in the 23-storey building in Threadneedle Street and sent a shower of glass and concrete onto the street. The long-term trend towards electronic trading platforms reduced the Exchange's attraction to visitors, and although the gallery reopened, it was closed permanently in 1992. The biggest event of the 1980s was the sudden de-regulation of
2006-502: The locations of other Burton stores, and mosaic titles – sometimes including the company logo – in the doorways. At ground level, foundation stones were often placed by Montague Burton's four children, Barbara, Stanley, Arnold and Raymond. Each store might have one or several foundation stones, each bearing one name and the year. For example: "This stone laid by Raymond Montaque Burton 1937". The children were quite young when these stones were laid. Stanley Howard
2065-420: The long-term strategies of the joint company is to expand Borsa Italiana's efficient clearing services to other European markets. In 2007, after Borsa Italiana announced that it was exercising its call option to acquire full control of MBE Holdings; thus the combined Group would now control Mercato dei Titoli di Stato, or MTS. This merger of Borsa Italiana and MTS with LSE's existing bond-listing business enhanced
2124-405: The more restrained red-brick with neoclassical scroll headed columns to fully-fledged Art Deco with glazed white faience tile, geometric patterns and stylised elephant heads. However, there are also many standard elements such as a wide polished black granite band above the shop windows for signage, metal vent grates bearing the company logo, billiard halls on the upper levels, window lights showing
2183-529: The rest of Great Britain also benefited from the economic boom. Two other cities in particular showed great business development: Liverpool and Manchester. Consequently, in 1836 both the Manchester and Liverpool stock exchanges were opened. Some stock prices sometimes rose by 10%, 20% or even 30% in a week. These were times when stockbroking was considered a real business profession, and such attracted many entrepreneurs. Nevertheless, with booms came busts, and in 1835
2242-523: The square. The protesters moved nearby to occupy the space in front of St Paul's Cathedral . The protests were part of the global Occupy movement . On 25 April 2019, the final day of the Extinction Rebellion disruption in London, 13 activists glued themselves together in a chain, blocking the entrances of the LSE. The protesters were all later arrested on suspicion of aggravated trespass. Extinction Rebellion had said its protesters would target
2301-418: The subsequent bombing of the Exchange's perimeters, and one suggestion was a move to Denham , Buckinghamshire. This however never took place. On the first day of September 1939, the Exchange closed its doors "until further notice" and two days later World War II was declared. Unlike in the prior war, the Exchange opened its doors again six days later, on 7 September. As the war escalated into its second year,
2360-849: The time of Arcadia's closure in 2020 (often a combined Burton and Dorothy Perkins store) but many others had changed use. McDonald's first three restaurants in the UK were opened in former Burton stores in 1974 and 1975 as the company was selling property at that time. Most of the Scottish stores are listed with Historic Environment Scotland , protecting them from changes. However, only six stores in England and Wales are listed buildings , leaving over 200 with no protection from future changes or demolition. As of 2021 , stores have been demolished in Plymouth (2004) and Neasden (2012). An early Dublin Burton's store
2419-489: The top, and middle floors let out to affiliate companies. Queen Elizabeth II opened the building on 8 November 1972; it was a new City landmark, with its 23,000 sq ft (2,100 m ) trading floor. 1973 marked a year of changes for the Stock Exchange. First, two trading prohibitions were abolished. A report from the Monopolies and Mergers Commission recommended the admittance of both women and foreign-born members on
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2478-581: The total market value of all companies trading on the LSE stood at $ 3.18 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cathedral . Since 2007, it has been part of the London Stock Exchange Group (LSEG, which the exchange also lists (ticker symbol LSEG)). Despite a post- Brexit exodus of stock listings from the London Stock Exchange, the LSE was the most valued stock exchange in Europe as of 2023. According to
2537-446: The transformation was not welcomed by all parties. On the first day of trading, non-members had to be expelled by a constable. In spite of the disorder, a new and bigger building was planned, at Capel Court. William Hammond laid the first foundation stone for the new building on 18 May. It was finished on 30 December when "The Stock Exchange" was incised on the entrance. In the Exchange's first operating years, on several occasions there
2596-509: The world, both the City and the Stock Exchange were hit hard by the outbreak of World War I in 1914. Due to fears that borrowed money was to be called in and that foreign banks would demand their loans or raise interest, prices surged at first. The decision to close the Exchange for improved breathing space and to extend the August Bank Holiday to prohibit a run on banks, was hurried through by
2655-541: Was knighted in 1931 for "services to industrial relations" and was a Justice of the Peace from 1924. He became a Fellow of the Royal Society of Antiquaries in 1940 and was awarded an honorary doctorate (DLitt) by the University of Leeds in 1944. In 1909, he married Sophia Amelia Marks: they had one daughter, Barbara (1910), and three sons, Stanley (1914) and twins Raymond and Arnold (1917). He died while speaking after
2714-469: Was a growing market. Notably, the Foreign Market at the Exchange allowed for merchants and traders to participate, and the Royal Exchange hosted all transactions where foreign parties were involved. The constant increase in overseas business eventually meant that dealing in foreign securities had to be allowed within all of the Exchange's premises. Just as London enjoyed growth through international trade,
2773-568: Was announced that the LSE would merge with the Deutsche Börse ; however this fell through. On 23 June 2007, the LSE announced that it had agreed on the terms of a recommended offer to the shareholders of the Borsa Italiana S.p.A. The merger of the two companies created a leading diversified exchange group in Europe. The combined group was named the London Stock Exchange Group, but still remained two separate legal and regulatory entities. One of
2832-474: Was appointed as the main architect, and in March 1854, the new brick building inspired from the Great Exhibition stood ready. This was a huge improvement in both surroundings and space, with twice the floor space available. By the late 1800s, the telephone, ticker tape , and the telegraph had been invented. Those new technologies led to a revolution in the work of the Exchange. As the financial centre of
2891-479: Was based on Microsoft's .NET Framework , and was developed by Microsoft and Accenture. Despite TradElect only being in use for about two years, after suffering multiple periods of extended downtime and unreliability the LSE announced in 2009 that it was planning to switch to Linux in 2010. The main market migration to MillenniumIT technology was successfully completed in February 2011. The previous system, SETS,
2950-596: Was born in 1914 and laid a stone for the Nottingham Beastmarket Hill store in 1924. At least six stores bear stones laid by Montague's wife "Lady Burton", and a number in the mid to late 1930s were laid by Austin Stephen Burton who may have been a grandchild. Whilst some of these Burton buildings have been destroyed over the years, many are still standing and some of them still have active snooker clubs upstairs. Some were still occupied by Burton stores at
3009-456: Was buying the Burton brand from Arcadia (along with the Wallis and Dorothy Perkins brands) for £25.2 million, with the loss of around 2,450 jobs. All Burton stores closed as the company became an online only retailer. Beginning in 1923, Burton began to acquire freehold sites in order to build its own custom designed stores. Prominent town centre corner sites were preferred and the shops often moved
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#17330861329113068-474: Was created in 2003 in partnership with OM Group. The Exchange also acquired Proquote Limited, a new generation supplier of real-time market data and trading systems. The old Stock Exchange Tower became largely redundant with Big Bang, which deregulated many of the LSE's activities: computerised systems and dealing rooms replaced face-to-face trading. In 2004, the LSE moved to a brand-new headquarters in Paternoster Square , close to St Paul's Cathedral . In 2007,
3127-599: Was housed in the purpose-built Montague Burton Building on the corner of Dame Street and South Great George's Street . It is now on the city's list of protected structures. Burton has worked with the Bobby Moore Fund in order to publicize the issue of bowel cancer. England's World-Cup-winning football team captain Bobby Moore died of bowel cancer in 1993. The Bobby Moore Fund is an arm of Cancer Research UK . In November 2009, Burton sought to bring back "The Burton",
3186-612: Was introduced in October 1997 and used until 2007. The London Market Information Link, a COBOL application running on a HP Tandem server was used to disseminate market data to terminals before being replaced by Infolect. The LSE facilitates stock listings in a currency other than its "home currency". Most stocks are quoted in GBP but some are quoted in EUR while others are quoted in USD. On 3 May 2000, it
3245-568: Was no clear set of regulations or fundamental laws for the Capel Court trading. In February 1812, the General Purpose Committee confirmed a set of recommendations, which later became the foundation of the first codified rule book of the Exchange. Even though the document was not a complex one, topics such as settlement and default were, in fact, quite comprehensive. With its new governmental commandments and increasing trading volume,
3304-411: Was not a daily list and was only published a few days of the week. This list and activity was later moved to Garraway's coffee house. Public auctions during this period were conducted for the duration that a length of tallow candle could burn; these were known as "by inch of candle" auctions. As stocks grew, with new companies joining to raise capital, the royal court also raised some monies. These are
3363-445: Was split from Debenhams in 1998. At this time Burtons became a brand name, and the Arcadia Group name took over as the group name. The companies purchased or merged with were: Burton was the official clothing supplier to the England national football team for the 1966 FIFA World Cup , UEFA Euro 1996 and the 2002 FIFA World Cup championships. In 1998 the company changed its name to Arcadia Group . Philip Green purchased
3422-523: Was staying in Cheetham Hill , Manchester . He started as a peddler, then set up as a general outfitter in Chesterfield in 1903 selling readymade suits bought from a wholesaler. Following his marriage to Sophie Marks in 1909 the name of the company was changed from M. Burton to Burton & Burton . On the birth of twin boys in (1917) he gave his name as Montague Maurice Burton . However, he had not changed his name legally, which caused problems during
3481-592: Was that traders began leaving the Royal Exchange, either by their own decision or through expulsion, and started dealing in the streets of London. The street in which they were now dealing was known as ' Exchange Alley ', or 'Change Alley'; it was suitably placed close to the Bank of England . Parliament tried to regulate this and ban the unofficial traders from the Change streets. Traders became weary of "bubbles" when companies rose quickly and fell, so they persuaded Parliament to pass
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