Need a good book on the LSE

[marben]

Does anyone know of a good book explaining how the LSE works?

I'm looking for a no-nonsense reference work that explains what goes on

Topics I'd particularly like more info on are:

- The relationship between marketmakers and brokers and how each of them make money
- The trading day: opening/closing auctions, automated and non-automated trades
- Stock market systems: SETS, SEATS, SEAQ
- Good glossary of terminology used

Any suggestions warmly welcomed.

TIA,

Mark

 

[TheArb]

mebbe this:

http://www.harriman-house.com/pages/book.htm?BookCode=16702

 

[marben]

Thanks Arb: UK Trader's Bible sounds good from its synopsis. I've ordered it & will let you know how I find it once it arrives.

 

[marben]

Preliminary review

Hi Arb,

Well "The UK Trader's Bible" finally arrived last week and I must once again thank you for your recommendation. I've made a start on it and am finding that it does contain some very useful background. I think this one will meet my needs.

It seems to contain plenty of detail on how SETS and SEAQ operate and on how market makers and brokers interact and operate. In the early sections I've also learnt about RSPs and the POSIT network - I wasn't even aware of these before!

The book does assume fair bit of background knowledge (which is acknowledged in the preface). I'd say it's more appropriate for a trader or serious investor with some experience than for a total newbie. It does seem a bit poorly written in places and has lots of forward references (e.g. the term "broker dealer" is used several times and only then explained). This makes it hard going but it certainly seems to contain the facts, making the effort worthwhile.

Regards,

Mark