​Using data from the London Stock Exchange we update our liquidity analysis from two years ago. Overall liquidity remains good and retail participation is strong. However the strong trends that were evident in 2013 are now absent and the market appears to be in more of a business as usual state. Against our expectations, volumes on the electronic order book have not grown and it remains a small, but important, part of ORB.

Hardman & Co
Hardman & Co

Founded over 20 years ago, Hardman is an FCA registered capital markets research and consultancy business providing a wide range of services to the UK corporate sector. The original Hardman business was acquired in late 2012, by a group of investors, all with significant career backgrounds in stockbroking and fund management. The business is owned by the staff and operates on the basis of a genuine partnership. Significant expansion has taken place in the last three years and it has developed a reputation for producing research and advice of the very highest quality.  Our services are provided by a large team of highly qualified industry professionals who are all very experienced in working with companies and investors. Their knowledge and business skills were developed working at many of the best known and highest quality investment houses in London where they learnt to understand capital markets, client needs, producing work of the highest possible standards and the importance of developing long term relationships. These same standards form the foundation of everything that we do at Hardman.

​For the past 20 years Hardman has been producing specialist research designed to improve investors’ understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge. Our focus is to raise companies’ profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case.

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