Rules of the London Stock Exchange

Rules of the London Stock Exchange

Introduction 
Reference to any statute and statutory provision shall be construed as those in force from time to time. 
References to time shall mean the time in London unless stated otherwise. References to days are business 
days unless otherwise stated.
Chapter headings, section headings and the titles and numbers of rules are for guidance and ease of 
reference only. 
For the purpose of these rules, an act or course of conduct includes both acts and omissions. Terms in bold 
are defined terms and shall have the meanings set out in the Definitions unless the context otherwise requires, 
and cognate expressions shall be construed consistently with them.
Rules with supplementary guidance are flagged with the notation “G” with the relevant guidance located 
immediately after the rule. A breach of the guidance is evidence of a breach of the rule.
A breach of the Rules would be subject to the disciplinary processes currently in place.
These rules shall be construed in accordance with, and governed by, the laws of England and Wales.
The Exchange shall not be liable in damages for anything done or omitted in the discharge of these rules 
unless it is shown that the act or omission was done in bad faith.
The Exchange’s rules make a clear distinction between a member firm acting as principal and as agent. Two 
trades with a member firm interposed as agent is deemed to be a single transaction. Two trades with a 
member firm interposed as principal are deemed to be two transactions.

Rules of the London Stock Exchange