London Stock Exchange Research Paper Example | Topics and Well Written Essays - 3000 words

London Stock Exchange - Research Paper Example This research objective to evaluate and present aim of the Taurus London Stock Exchange Project that is to turn stock trading paperless, with the aim of making transactions smoother and more convenient for London Stock Exchange traders. The Taurus project started in 1986 from the 'big bang', an event at which the London Stock Exchange was turned into a self-regulating operation which was overseen but not fully controlled by the Bank of England. The offshoot of this 'big bang' was that many of the restrictions that were previously placed upon the London Stock Exchange were no longer in place and the Exchange could now enforce rules, regulations and software to improve the service. The United States and Japanese Stock Exchanges were primarily electronic at this time, with the London Stock Exchange taking three to six weeks to complete a transfer and the other international exchanges providing transfers in days. The London Stock Exchange needed to move from this paper-based time-consumi ng style of trading and move onwards into the future, and this was one of the main aims of the Taurus project. Taurus (Transfer and Automated Registration of Uncertified Stock) had the aim of providing a paperless service to the London Stock Exchange and reduce the burden on those in the back office. The project had the aim to move to computerized shareholdings which would reduce both time and cost to the London Stock Exchange. ... The offshoot of this 'big bang' was that many of the restrictions that were previously placed upon the London Stock Exchange were no longer in place and the Exchange could now enforce rules, regulations and software to improve the service. The United States and Japanese Stock Exchanges were primarily electronic at this time, with the London Stock Exchange taking three to six weeks to complete a transfer and the other international exchanges providing transfers in days (Currie, 1994). The London Stock Exchange needed to move from this paper-based time-consuming style of trading and move onwards into the future, and this was one of the main aims of the Taurus project. Taurus (Transfer and Automated Registration of Uncertified Stock) had the aim of providing a paperless service to the London Stock Exchange and reduce the burden on those in the back office (Bergman et al, 2002). The project had the aim to move to computerized shareholdings which would reduce both time and cost to the Lon don Stock Exchange. Taurus was originally planned to be a software database containing a computerized database of all the investors and shareholders plus their stocks and holdings that operated through the London Stock Exchange as a central operator (Keil et al, 2002). The ownership of stocks would be as simple as an entry into this database, something which is represented by the stock markets of today. There were several aims of the project beyond those mentioned above. Firstly, the movement to a paperless system would remove the need for countless jobs and resources and could potentially have saved the London Stock Exchange millions of pounds. This movement was backed by several prominent economists and politicians of the day, as well as by those residing in the City