London stock market crashes amid fight to revive City

Jeremy Hunt's plans to loosen rules governing city listings have faced opposition from regulators and pension funds. Credit: REUTERS/Yves Herman

Separately, the FCA plans to create a «consolidated feed» in the city that will consolidate key trade information in one place to increase competitiveness.

The regulator said the Consolidated Feed will create a more complete picture market, strengthening the UK's position as a leading center for listing and trading bonds.

This proposal was first announced as part of Jeremy Hunt's Edinburgh Reforms last December.

Sarah Pritchard, head of markets at the watchdog, said: “We are adapting our rules to make sure the UK market performs well, providing confidence for firms and thus creating a good environment for investment.

“The new consolidated feed will help reduce trading costs, increase transparency and improve data quality.

«Our other measures announced today aim to further support the UK's thriving financial services sector.»