Completion Date: 20 May 2019
Medium: Paint & ink on cardboard
Dimensions: 16 X 20 inches
This piece lists every one of 100 companies in the FTSE100 (Financial Times Stock Exchange 100 Index).
The FTSE100 is a share index of the 100 companies listed on the London Stock Exchange with the highest market capitalisation. It is seen as a gauge of prosperity for businesses regulated by UK company law. The index is maintained by the FTSE Group, a subsidiary of the London Stock Exchange Group.
The phrase Big Bang, used in reference to the sudden deregulation of financial markets, was coined to describe measures, including abolition of fixed commission charges and of the distinction between stockjobbers and stockbrokers on the London Stock Exchange and change from open-outcry to electronic, screen-based trading, effected by Margaret Thatcher in 1986.
The effect of the Big Bang led to significant changes to the structure of the financial markets in London. The changes saw many of the old firms being taken over by large banks both foreign and domestic and would lead in the following years to further changes to the regulatory environment that would eventually lead to the creation of the Financial Services Authority.
The effects of Big Bang were dramatic, with London’s place as a financial capital decisively strengthened, to the point where it is arguably the world’s most important financial centre.