London Stock Exchange
London EC2N 1HP
Telephone 020 7797 1000
www.londonstockexchange.com
14 November 2003
Service Announcement
Trading and London Market Information Link (LMIL)
Effective Date 24 November 2003
The purpose of this Service Announcement is to provide you with notice,
which is in accordance with the terms of your LMIL and Trading Services
order forms and user agreements, of the addition of a new market sector
code within SET1 segment. The sector, along with security migration to the
new sector, will become effective on 24 November. This announcement also
gives details of 14 new temporary period rules being introduced to facilitate
new price monitoring controls during the index expiry.
New Sector
The sector will be implemented to allow for the introduction of price
monitoring controls during the FTSE 100 & 250 index expiries from 19
December 2003. The new sector will contain the top 20 FTSE 100 securities
by market capitalisation after adjusting for free float. During the expiry these
securities will be subject to a price monitoring tolerance of 5%. The remaining
securities in FS10 and FT10 will be subject to a price monitoring tolerance of
10% for the duration of the expiry.
Full details of changes to the expiry mechanism are contained in the London
Stock Exchange Notice N26/03 issued on 3 November 2003
(http://www.londonstockexchange.com/regulation/notices/N2603.asp):
The following sector code will be added to the existing SET1 segment:
Segment Segment Description
Code
SET1
FTSE 100
New
Sector
Code
FE10
Sector Description
FTSE100 Securities
FE10 will operate with the same default period schedule as FS10 and FT10.
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New Period Rules
The temporary period rules listed below are being introduced to facilitate new
price monitoring controls during the index expiry.
Period
Name
IEAS
ID05
ID10
ID25
IX05
IX10
IX25
EAES
ET10
ET15
ET25
EX10
EX15
EX25
Period Description
Sectors Affected
Index expiry automatic
suspension
Index Expiry Order Book trading
05
Index Expiry Order Book trading
10
Index Expiry Order Book trading
25
Index Expiry Order Book
Uncrossing 05
Index Expiry Order Book
Uncrossing 10
Index Expiry Order Book
Uncrossing 25
Expiry Automatic execution
suspension
Expiry Trading Mandatory
Period 10
Expiry Trading Mandatory
Period 15
Expiry Trading Mandatory
Period 25
Expiry Trading Uncrossing
MP10
Expiry Trading Uncrossing
MP15
Expiry Trading Uncrossing
MP25
All sectors within SET1 &
SET2
FE10
FT10, FS10, FE25 & FT25
SS10 & SS25
FE10
FT10, FS10, FE25 & FT25
SS10 & SS25
The following sectors within
STMM: F25F, F25T, F25S,
F25E, 250F, 250T, 250S
F25F, F25T, F25S, F25E
250F, 250T, 250S,
25FS
F25F, F25T, F25S, F25E
250F, 250T, 250S
25FS
Security Movements
Appendix A contains details of securities within SET1 that will be migrated
due to the introduction of the new sector FE10. All securities will be migrated
effective 24 November 2003.
Customer Development Service (CDS)
The new sector, temporary period rules and security migration will also
become effective on CDS from 24 November 2003.
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From 24 November 2003 to 19 December 2003, a revised default period
schedule will apply to provide customers with additional opportunities to test
trading strategies during the expiry/additional auctions.
In addition to the existing period schedule for the CDS sectors detailed below,
the following period rules will be added:
Period
Name
ID05
ID10
ID25
ET10
ET15
ET25
OBT2
OB25
MMM2
MMP2
MMD2
Start Time
Sectors Affected
10:02 and 14:02
10:02 and 14:02
10:02 and 14:02
10:02 and 14:02
10:02 and 14:02
10:02 and 14:02
10:31 and 14:31
10:31 and 14:31
10:31 and 14:31
10:31 and 14:31
10:31 and 14:31
FE10
FT10, FS10, FE25 & FT25
SS10 & SS25
F25F, F25T, F25S, F25E
250F, 250T, 250S,
25FS
FE10, FT10, FS10, FE25 & FT25
SS10 & SS25
F25F, F25T, F25S, F25E
250F, 250T, 250S,
25FS
Additional information
If you have any queries about this announcement please contact your
account manager or the Technical Information Desk on 020 7797 3939 (STX
33939).
An archive of previously issued service announcements is available in the
technical library section of the Exchange's Internet site
(http://www.londonstockexchange.com/techlib).
If you would like to amend or add further recipients of service
announcements, please send the revised email contact details to
[email protected].
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