Important update for LTSE Equity customers.
Dear LTSE Equity Customers,
We would like to share some important news regarding your cap table management. We have created a partnership with Astrella and will be offering you the option for AstrellaⓇ by Equiniti to become your cap table provider.
We have a nearly four-year working history with the team and know that they will be a great solution for our customers. Astrella will honor our customers' payment terms through your annual renewal date. You’ll have a new login portal, but Anashe Barton will still be your point of contact. Anashe will be joining the Astrella team and will be available to help with your transition to Astrella and to support you going forward.
Our dedicated support team remains committed to making this transition seamless for you. In order to transfer to Astrella and ensure no service interruptions, you will need to opt-in on your company’s LTSE Equity account by January 31, 2024. Once you do, we'll proactively reach out in the coming weeks with detailed information on your specific transition. We’ve developed FAQs to answer some of the questions you may have.
We appreciate your trust in LTSE Equity and look forward to the possibilities Astrella brings to your equity management needs. For immediate assistance, contact support@ltse.com. If you would like to speak with the team at Astrella, please reach out to Jayne Taylor at jayne.taylor@equiniti.com.
Thank you for your continued partnership.
Sincerely,
The LTSE Equity Team
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Comments
LTSE Equity appears to be kind of a side project of the main LTSE Exchange which is not shutting down.
Note, however, that only a few hundred thousand shares trade on LTSE each day, for a market share of approximately 0.00%.
By eej71 2024-01-261:34 Agreed. LTSE has a very tiny market share of the daily trading.
I honestly can't figure out how they are making enough money to stay in business. I have to assume that by getting a seat at the big boy RegNMS table, they are getting a share of the fees paid to the SIP. But even with that, seems like a tough way to get by.
but, like, holding things for the long term is the point of LTSE, taking market share by daily trading volume as a measure of succcess is exactly the sort of attitude the LTSE is trying to fight against lol
By eej71 2024-01-2620:35 Leaving aside whether or not that's a good goal, these venues NEED trading to happen through them in order to survive.
It's a bit like being a newspaper opposed to publishing new news articles everyday. That can be a goal, I guess, but its a newspaper that isn't going to last long.
So LTSE is like a private investors club for companies with "long term purpose"? But as the FAQ says the companies have to already be listed on the NYSE or Nasdaq. So if you can access LTSE trading, you'll be able to arbitrage the stocks, which sounds completely antithetical to the idea of LTSE but how do they stop it?
By HighFreqAsuka 2024-01-261:341 reply By having nearly no volume to begin with. Many US stocks are listed across many of the ~13 US exchanges, so what you're describing is already the status quo. According to RegNMS regulations, traders cannot trade through protected quotes, and so trading firms already have to be aware of the prices on all US exchanges.
But LSTE has so little volume, that you frankly forget they exist most of the time.
The exclusivity and (assumed) low volume is what made me think of arb opportunities in the first place :) I doubt I'll be getting an invitation to trade.
By eej71 2024-01-261:47 I haven't tried, but I believe that upon request, your brokerage firm will direct trades to LTSE or any venue of your choosing.
By sebastiennight 2024-01-2614:59 They just sent an email sending customers notice that they're offloading the customer base to Astrella.
As a customer I need to figure out whether I want to opt in, by January 31st at the latest.
Luckily, there is an Astrella demo webinar every week ! (And the next one is... on January 31st in the evening).
I would call this a short deadline.
