lseg

O valor das propostas para empresas na Bolsa de Valores de Londres é 27 vezes maior do que o valor dos novos participantes este ano, levantando novos temores sobre a redução dos mercados públicos do Reino Unido. $EVAA

Apesar das expectativas iniciais de que 2026 traria uma recuperação para a LSE, houve apenas sete listagens no primeiro semestre do ano, arrecadando £577,2 milhões no total, segundo dados da empresa de serviços profissionais EY. $EDGE

O valor total de mercado dos novos imóveis é de £2,2 bilhões, impulsionado principalmente pela entrada em bolsa de uma participação no fundo nacional de investimento do Uzbequistão, que também arrecadou o maior valor de todos os anúncios, atingindo £511 milhões. $CLO


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LSEG has for several years been more concerned with revenue from selling data products than investing in a functioning market," he said. Recent reductions in the cost of retail price distribution help, he added, but do little to encourage participation.
On proposals to extend U.K. trading hours, Saunders argued the effect would be to stretch existing liquidity rather than create new liquidity.
He described the mechanism as a decline in liquidity density, where the same number of shares change hands, but orders are spread across a longer period, leaving the order book shallower at any given moment.
"Market makers and institutional traders do not double their risk capital just because the clock says they should," he said. "They allocate the same risk budget across a longer day."
The consequence, he believes, is that a market maker filling an order holds inventory for longer before finding a counterparty, increasing the risk that prices move against the position. Market makers compensate by widening spreads, raising the average effective cost of trading.
Furthermore, he feels execution quality would diverge by order type. Market orders would deteriorate, running through more price tiers to fill and producing execution prices materially worse than the touch price.
Limit orders would improve marginally, competing against fewer resting orders across a wider spread, but with a lower probability of being filled, and potentially sit unexecuted for hours or expiring at the close.
Saunders noted that demand for longer access to U.K. stocks does exist, but is conditional on sufficient liquidity being available. Rising costs of trading in illiquid hours would eventually suppress that demand.
Concentrating liquidity into auctions could offset the effect, he said, while a continuous order book across extended hours represents a threat to liquidity and, in turn, to the exchange’s viability.