UNITED STATES OF AMERICA
Before the
COMMODITY FUTURES TRADING COMMISSION

In the Matter of the Application of London Stock Exchange ple.
for Registration pursuant to Section 4(b)(1) of the Commodity
Exchange Act and Part 48 of the Regulations of the Commodity
Futures Trading Commission in order to permit direct access

to its order entry and trade matching system

ORDER OF REGISTRATION

Pursuant to Section 4(b)(1) of the Commodity Exchange Act (the Act), 7 U.S.C.

§ 6(b)(1), and Part 48 of the Commission’s regulations, London Stock Exchange ple. (LSE), a
Recognised Investment Exchange subject to regulatory supervision by the Financial Conduct
Authority of the United Kingdom, submitted an application dated December 19, 2013 and
including supplemental submissions filed through May 2016 (the Application), requesting
registration in order to permit identified members and other participants located in the United
States to enter trades directly into its order entry and trade matching system.

The Commission has reviewed the Application along with the exhibits, supplemental
documents, and other supporting information and representations, and finds that LSE has
demonstrated its ability to comply with the requirements of the Act and applicable Commission
regulations thereunder, including the requirements for registration as set forth in Part 48 of the
Commission’s regulations.

In light of the foregoing, IT IS ORDERED, pursuant to Section 4(b)(1) of the Act,

7USS.C, § 6(b)(1), that LSE is granted an Order of Registration to permit direct access, as that



term is defined in Section 4(b)(1)(A) of the Act, subject to the terms and conditions specified
herein:

(1) Compliance with the Act and Commission Regulations, LSE shall comply, and

shall demonstrate compliance as requested by the Commission, with all sections of the Act and
the Commission’s regulations thereunder applicable to LSE as a foreign board of trade registered
pursuant to Part 48 of the Commission’s regulations, as may be amended or adopted from time to
time. LSE shall comply with the applicable conditions of registration specified in Commission
regulation 48.8 and any additional conditions that the Commission deems necessary and may
impose, in its discretion, after appropriate notice and opportunity to respond. LSE shall fulfill
each of the representations it has made in support of the Application for registration.

(2) New Regulations. Should the Commission promulgate a regulation addressing or
otherwise affecting any aspect of this Order, then such regulation will apply and supersede the
applicable terms in this Order.

(3) Reservation of Rights. This Order is based upon the representations made and
supporting material provided to the Commission by LSE as part of the Application. In the event
of any changes to or omissions in the material facts or circumstances pursuant to which this
Order is issued, or for any reason in the Commission’s discretion and after appropriate notice and
opportunity to respond, the Commission may condition, modify, suspend, terminate, or otherwise
restrict the terms of this Order, as appropriate and as permitted by law, on its own motion.

Issued in Washington, D.C. this 31st day of October, 2016.

By the Commission
Ll) Dhol

Christopher i Kirkpatrick

Secretary of the Commission