By mid-1992, chief executive Peter Rawlins's mission to streamline the London Stock Exchange (LSE) had been virtually accomplished. The restructuring came at a price, however, as there were signs of resentment towards Rawlins, who had let it be known that he had a poor opinion of many of the senior professional staff. More importantly, Rawlins had ruffled the city establishment. In July 1992, however, the LSE board passed a special vote of confidence in the chief executive. Although Taurus was a ‘pain in the neck’ to Rawlins, by July 1992 his thoughts were turning towards a possible use for the system. One of his plans encouraging share ownership was to offer private investors automated trading facilities similar to the ‘hole in the wall’ machines operated by banks. Such a development was impossible in a paper-based environment, however. This chapter looks at the events leading up to the eventual cancellation of Taurus and the resignation of Rawlins as chief executive.
Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.
If you think you should have access to this title, please contact your librarian.