Market Report : Taking Stock
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Your support makes all the difference.The battle between the Stock Exchange and Tradepoint Financial, the stock market in miniature, is getting more intense. Next month Tradepoint's order driven system will have to contend with a powerful Stock Exchange challenge when it switches to order-driven trading, as opposed to quote- driven, for the 100 Footsie shares.
Last week the Stock Exchange slashed its charges to undercut Tradepoint. But in a deal with inter-dealer brokers, which have nearly 10 per cent of its capital, Tradepoint has countered and is, in effect, now offering a free service. Yesterday Tradepoint shares edged forward 1p to 124.5, highest for nearly a year, as it reported its third-best session with share deals topping pounds 16m.
In August, ahead of an pounds 11.4m rescue package the shares were 65p.
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