The primary equity market in the United Kingdom and a member of the London Stock Exchange Group which also includes Borsa Italiana.
Currency: British Pence (GBx)
LSE has MQAT (Minimum Quantity At Touch) functionality operating on a number of non-FTSE350 sectors for equity securities on SETS (Electronic Trading System). MQAT is applied only on entry and not to orders that are already present on the order book. It does not apply during any auction phases.
The LSE auction mechanism is the same for price monitoring auction (circuit breakers), opening auction, and closing auction.
The opening auction occurs at 08:00 and is preceded by a 10-minute order entry phase at 07:50 - 08:00. During the order entry phase, orders can be entered but will not be matched.
The closing price is defined by following closing auction mechanism.
Auction means an auction conducted in a trading platform with respect to qualifying orders at the auction price pursuant to the following process:
The execution price for an auction will be the price that:
1. Continuous Trading (08:00 - 12:00)
2. Intraday Auction (12:00:01 - 12:05)
3. Continuous Trading (12:05:01 - 16:30)
4. Closing Auction Call (16:30:01 - 16:35)
5. Closing Price Crossing Session (16:35:01 - 16:40:00)
Order Types: Market and Limit orders will be eligible to participate in the closing auction.
For more information on LSE auction mechanisms, see the Trading Services page.