Trading stock or options on the London exchange?

apalmer · Dec 30, 2005

I am interested in trading a stock on the london exchange, options if available, however do not know how to go about doing so. The ticker symbol is PRTY.L, PartyGaming. Can someone please offer advice as to how to go about trading this stock through optionsxpress. Is it possible? Thanks.

apalmer · Jan 3, 2006

I am in the united states, in chicago. Is there any way I can trade this stock without them having a ADR because the company is listed on the london exchange?

risktaker · Jan 3, 2006

LSE is not exactly ''trader-friendly''.
They have 1/2 % stamp-duty tax on transactions.
Looks like you may need to open an acct with an English/European broker.

apalmer · Jan 3, 2006

Could you please recommend a good online discount english broker? How do I find out more information about trading a stock on the exchange?

risktaker · Jan 3, 2006

I forgot that interactive brokers trades the lse.
Here's the stock page you're looking for.

http://www.interactivebrokers.com/e...products=&sequence_idx=800&sortproducts=#show
You can open an account with them here.

http://www.interactivebrokers.com/en/accounts/individuals/individualMain.php?ib_entity=llc

For a list of UK broker try here...some 28 listed.

http://www.uknetguide.co.uk/Finance/Stocks_and_Shares

mokwit · Jan 3, 2006

Good luck, Some UK brokers are in a time warp. One asked me for a letter of reccomendation from my bank, like we were back in the 1930's and a bank was something that employed people rather than being a mainframe computer.

hedgeyourbets · Jan 4, 2006

Quote from mokwit:

Good luck, Some UK brokers are in a time warp. One asked me for a letter of reccomendation from my bank, like we were back in the 1930's and a bank was something that employed people rather than being a mainframe computer.

You got to be kidding me! The more things change, the more they stay the same. I remember trying to open a checking account in the UK back in the early 90s... The bank asked me for "references" just to open an account... I did not realize their brokers just as "progressive"

Chagi · Jan 4, 2006

Quote from mokwit:

Good luck, Some UK brokers are in a time warp. One asked me for a letter of reccomendation from my bank, like we were back in the 1930's and a bank was something that employed people rather than being a mainframe computer.

Reminds me of one of the Canadian brokerages, their app form asks for a "bank reference" as well. I'm not sure how things are in the US, but in Canada we have had some fairly stringent privacy legislation rolled out over the past few years. So even if I provided my bank's name on the app form, I doubt that the bank would release any info about me (without direct permission from me).