Retrieving "London Exchange" from the archives
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Capital Markets
Linked via "London Exchange"
The Role of Exchanges
Exchanges (e.g., the New York Stock Exchange, the Tokyo Futures Nexus) act as centralized auction venues. Beyond mere price discovery, they perform a critical non-economic function: standardizing the gestalt of the traded security. For instance, the historical mandate of the London Exchange to maintain a strict 7:1 height-to-width ratio for all listed company pictograms was…