LONDON STOCK EXCHANGE

a London marketplace for securities. It lies in the vicinity of the Bank of England and the Royal Exchange, in the heart of the City of London. The market was formed in 1773 by several stockbrokers who had been doing business informally in neighbourhood coffeehouses. In 1801 a group of the members raised money for the construction of a building in Capel Court, Bartholomew Lane, and rules for the exchange were established soon afterward; the rules subsequently have been amended several times. In 1973 the exchange merged with several regional stock exchanges in Great Britain, and its operations were reorganized in 1986.