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The UK Trader's Bible

The Complete Guide to Trading the UK Stock Market

By Dominic Connolly

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About the Author

Dominic Connolly

Dominic Connolly has been at the forefront of equity derivatives and contracts for difference (CFD) trading for nearly fifteen years. In 1990 he joined the index arbitrage and derivatives desk at Smith New Court, London's premier market-maker where the equity CFD product was pioneered in the UK.

In 1993, he joined Bankers Trust, one of the powerhouses of the derivatives revolution where he ... Read more on Dominic Connolly

Contents Listing

Index of figures
Index of tables
About the author
Acknowledgements
Preface
Introduction

Section 1: How The UK Stock Market Works

The Modern Stock Market
- The markets
- London Stock Exchange trading platforms
- Important Listing Rules
- Retail Service Providers (RSPs)
- Institutional crossing
- Stock-lending and borrowing

London Stock Exchange Trading Platforms
- SETS
- SEAQ
- SETSmm
- SETS and SETSmm auctions
- SEATS Plus

Share Certificates and CREST

Contracts For Difference

Spread Betting

Other Trading Instruments
- Universal Stock Futures
- Exchange Traded Funds (ETFs)
- Covered warrants
- Benchmark Certificates
- Gold Bullion Securities (GBS)
- American Depositary Receipts (ADRs)

Portfolio/Basket Trading
- Principal portfolio trading
- Agency portfolio trading
- Futures and index arbitrage
- Equity block trades and bought deals


Section 2: Trading Notes & Strategies

Daily Diary
- Basic structure of the UK trading day
- 07.00-08.00: Pre-market preparation
- 07.50-08.00: Opening auction
- 08.00: Market Open
- 08.00-16.30: Continuous Trading
- Philadelphia Stock Exchange Semiconductor Index (SOX)
- 14.30: US markets open
- 16.30-16.35: Closing auction
- After market trade reporting
- 18.30: RNS closes
- News

Trading The UK Market On Margin
- CFD providers' shareholdings

Company Watch
- Company news
- Company statements
- Court cases and Cause Lists
- Dividends
- Share splits and consolidations
- Stock buy-backs
- IPOs and conditional dealings
- Public offers, placings and rights issues
- Equity lines of credit
- Directors' dealings
- Broker upgrades and downgrades

Market Watch
- Auction imbalances
- Following the clever money
- Meetings and resolutions
- Volatility and VIX

Event Opportunities
- Lock-up expiries
- Index reviews, re-weightings and investability changes
- Sector switches and re-ratings
- Credit rating changes
- Futures & options expiries

Market Neutral Strategies
- Pairs trading
- Balance sheet arbitrage
- Convertible bond arbitrage
- Dual listed shares and cross border arbitrage

Takeovers
- The Takeover Code
- Offer period
- When an announcement is required
- Types of announcement
- Bid timetable
- Regulatory issues
- Mandatory offers
- Dealings and transactions
- Schemes of arrangement
- Substantial Acquisition Rules (SARs)
- Tender offers
- Partial offers
- Comparison of offer types
- The regulators
- Inducement fees and break fees
- Due diligence
- Transaction types
- Risk arbitrage - analysis of a situation
- Financing
- Competing offers
- Event failure
- Acceptances
- Protection from siege warfare
- Greenmail
- Offer obligations
- Stub equity
- Accounting changes
- MBOs
- Triple net asset value (property assets)
- Online M&A resources

Appendices
- Glossary
- Directory of online stockbrokers
- Directory of spread betting firms
- Trading resources
- Stock codes
- Trade codes
- Market Maker codes
- Stock indices - UK
- Stock indices - International
- Company profile of the FTSE 100 Index
- Sector profile of the FTSE 100 Index
- FTSE 100 quarterly review
- Derivatives dealing comparison table
- Cash shells
- Shell companies
- UK ADRs

Index
Index of figures
Index of tables
About the author
Acknowledgements
Preface
Introduction

Section 1: How The UK Stock Market Works

The Modern Stock Market
- The markets
- London Stock Exchange trading platforms
- Important Listing Rules
- Retail Service Providers (RSPs)
- Institutional crossing
- Stock-lending and borrowing

London Stock Exchange Trading Platforms
- SETS
- SEAQ
- SETSmm
- SETS a ...

Jacket Text

This is the only comprehensive UK-published guide to short-term trading, combining detailed reference information with the author's advice on strategy and tactics. Every serious trader in the UK needs this book - not a nice-to-have, but a must-have!

The 10 key things you will learn:

- Detailed description of the different trading platforms (SEAQ, SETS, SETSmm, SEATS Plus) on the London Stock Exchange.

- How to deal inside the spread in market making stocks and get the best price.

- How auctions work on the London Stock Exchange platforms.

- The importance of direct market access for active traders.

- The secrets of programme trading, index arbitrage and block deals.

- How the cash, futures, lending and derivatives markets interact.

- The secrets and risks of short selling.

- Which directors' deals to follow and which are irrelevant.

- How to make money from takeover situations.

- Secret strategies from an established and successful trader.

Media Coverage

Fool.co.uk


There's more about how market makers work and a lot else in Dominic Connolly's excellent The UK Trader's BibleAlun Morris, Fool.co.uk19th July 2006

Read more

ShareSoc

Contains lots of detail technical information on how the markets operate and trading techniques. Useful background information even for less frequent traders.

Read more

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