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London Stock Exchange Operating As Normal; No Plans To Suspend Trading

Thu, 26th Mar 2020 16:10

(Alliance News) - London Stock Exchange on Thursday said it continues to operate as normal and there are no plans to suspend trading amid the Covid-19 pandemic.

"It is important that markets remain open to support companies who will continue to need access to capital and to ensure pricing is conducted in a fair and transparent manner for retail and institutional investors who need ongoing access to liquidity," the stock market said in a statement.

The LSE has "robust" business continuity plans in place, which are regularly tested, to ensure the safe and orderly functioning of the business.

LSE also said that it supports the measures undertaken by the UK Financial Conduct Authority, Financial Reporting Council and Prudential Regulatory Authority, to assist companies affected by the virus outbreak.

Earlier, the FCA and FRC said they will offer relief for listed companies facing challenges reporting during the virus crisis. The temporary relief gives listed firms an additional two months to complete their audited financial statements.

Currently, a company listed on the London Stock Exchange has four months from its financial year-end to release its financial statements. Now, however, the regulator is allowing an additional two months, so six months in total.

London Stock Exchange is part of London Stock Exchange Group PLC, which also owns Borsa Italiana.

Shares in LSEG were down 1.8% at 7,236.00 pence each in London on Thursday afternoon.

By Tapan Panchal; tapanpanchal@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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