Big Bang
E489155
The Big Bang was a major deregulation of the London financial markets in 1986 that transformed the City of London into a modern, globally competitive financial center.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Big Bang canonical | 1 |
Statements (47)
| Predicate | Object |
|---|---|
| instanceOf |
economic reform
ⓘ
financial market deregulation ⓘ historical event ⓘ |
| alsoKnownAs |
Big Bang deregulation
NERFINISHED
ⓘ
City of London Big Bang NERFINISHED ⓘ |
| associatedWithInstitution | London Stock Exchange NERFINISHED ⓘ |
| associatedWithPlace | City of London NERFINISHED ⓘ |
| country | United Kingdom ⓘ |
| effectiveDate | 1986-10-27 ⓘ |
| hasTopic |
Thatcherism and economic policy
ⓘ
financial deregulation in the United Kingdom ⓘ history of the City of London ⓘ |
| historicalContext | Thatcher-era economic liberalization in the United Kingdom ⓘ |
| implementedBy | Conservative government of the United Kingdom NERFINISHED ⓘ |
| implementedUnderGovernmentOf | Margaret Thatcher NERFINISHED ⓘ |
| includedChange |
abolition of fixed minimum commissions on stock trades
ⓘ
allowing foreign firms to own UK stockbrokers ⓘ end of single-capacity system separating brokers and jobbers ⓘ increased competition in securities dealing ⓘ introduction of dual-capacity firms acting as both brokers and dealers ⓘ relaxation of ownership rules for member firms of the London Stock Exchange ⓘ shift from open outcry trading to electronic screen-based trading ⓘ |
| influencedBy | free-market economic policies ⓘ |
| legalForm | package of regulatory and structural changes to financial markets ⓘ |
| location |
City of London
NERFINISHED
ⓘ
London, England ⓘ
surface form:
London
|
| longTermImpact |
accelerated adoption of electronic trading in London
ⓘ
established London as a leading global financial hub ⓘ transformed structure and ownership of City of London financial firms ⓘ |
| mainMarketAffected | London Stock Exchange NERFINISHED ⓘ |
| mainObjective |
increase global competitiveness of London as a financial centre
ⓘ
liberalize securities trading ⓘ modernize the City of London financial markets ⓘ |
| precededBy | more restrictive and club-like structure of the City of London financial markets ⓘ |
| reformType |
deregulation of financial markets
ⓘ
liberalization of securities trading ⓘ |
| regulatesOrAffects |
investment banking in London
ⓘ
securities trading in the United Kingdom ⓘ stockbroking in London ⓘ |
| resultedIn |
consolidation of traditional stockbroking and jobbing firms
ⓘ
greater integration of UK financial markets with global markets ⓘ increased competition in financial services in London ⓘ influx of foreign, especially American, investment banks into the City of London ⓘ rapid expansion of London as an international financial centre ⓘ |
| sector |
financial services
ⓘ
securities markets ⓘ |
| year | 1986 ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.