Big Bang

A reference to the major operational changes on the London Stock Exchange that took place on 27th October 1986. These included: the introduction of market makers to combine the functions of stockbrokers and stockjobbers; the ending of fixed commissions; the introduction of the Stock Exchange Automated Quotation system (SEAQ) (which replaced the trading floor of the Stock Exchange with a screen-based quotation system used by brokers); and the abolition of the restrictions on ownership of UK stockbrokers.