Trading in shares of the London Stock Exchange will start next month as soon as shareholders receive the memorandum of understanding which will outline the details of the controversial iX merger between the LSE and the Deutsche Börse. The information memorandum is due to arrive with member firms on July 11.

As soon as the memorandum reaches members, Cazenove will be writing to tell the 298 LSE shareholders that it will be offering a matched bargain trading facility with immediate effect. This means that the 298 investors will then be able to buy and sell shares in the stock exchange up to the maximum 4.9% that has been agreed.