HC Deb 25 April 1988 vol 132 cc46-7W
Mr. Irvine

To ask the Chancellor of the Duchy of Lancaster whether leave has yet been give under section 120(2) of the Financial Services Act for the Securities and Investments Board to make recognition orders in respect of any investment exchanges or clearing houses.

Mr. Maude

Having considered, in accordance with the provisions of the Act, reports made by the Director General of Fair Trading on the rules, regulations, guidance and arrangements submitted by the exchanges and clearing houses listed in the table, my right hon. and noble Friend has concluded that on the basis of the information presently available to him he does not consider there is anything in the material submitted which has, or is intended or likely to have, to any significant extent the effect of restricting, distorting or preventing competition. He has therefore given his leave to the SIB to make recognition orders in respect of the following investment exchanges and clearing houses:

  • The London International Financial Futures Exchange Ltd.
  • LIFFE Options plc.
  • The London Metal Exchange Limited.
  • London Commodity Exchange (1986) Limited.
  • The International Petroleum Exchange of London Limited.
  • International Commodities Clearing House Limited. GAFTA Clearing House Company Limited.