INVESTING EXPLAINED: What you need to know about 最初の／主要な listings - the 株式市場 where a company's 株 first went public
In this series, we 破産した／（警察が）手入れする the jargon and explain a popular 投資するing 称する，呼ぶ／期間／用語 or 主題. Here it's?最初の／主要な listings.
What is this?
A company's 最初の／主要な 名簿（に載せる）／表（にあげる）ing 言及するs to the 株式市場 on which its 株 were first 名簿（に載せる）／表（にあげる）d when it went public. It is also possible to have a 第２位 名簿（に載せる）／表（にあげる）ing on another market.?
This 戦略 gives a company 接近 to a greater pool of 資本／首都, which is why so many larger 商売／仕事s enjoy the 協定.?
ますます, however, the 第２位 名簿（に載せる）／表（にあげる）ing market (usually New York) is starting to look a lot more welcoming than the 最初の／主要な 名簿（に載せる）／表（にあげる）ing market.
Value:?More British companies are keen to 交換（する） their 最初の／主要な 名簿（に載せる）／表（にあげる）ing from London to New York
Why are we reading this now?
More British companies are keen to 交換（する） their 最初の／主要な 名簿（に載せる）／表（にあげる）ing from London to New York, where they believe their 株 would be more generously valued because of the greater pool of 利用できる 資本／首都.?
The company's bosses may also hope to 利益 from the higher 支払う／賃金 率s for 最高の，を越す (n)役員／(a)執行力のあるs in the US, although this is rarely the 推論する／理由 明言する／公表するd for the move.
Who is quitting the UK?
The 最新の is the 賭事ing 巨大（な） ぱたぱたする, which owns Betfair, 米，稲 力／強力にする and Poker 星／主役にするs. At this week's 年次の general 会合, ぱたぱたする 株主s 認可するd the New York move. In its defence, ぱたぱたする can argue it has 拡大するd in the US.
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span>UK 投資家s 注ぐ cash into US 公正，普通株主権s, data shows 
ぱたぱたする is に引き続いて the lead of several others. Travel company Tui has swapped London for Frankfurt. Building 供給（する）s 商売／仕事 CRH and 製薬の company Invidior have snubbed London in favour of New York. 爆撃する has 脅すd that it may be the next to leave.
Any more planning to move?
A group of 株主s in Glencore has begun to agitate for a move to Sydney on the basis that the 採掘 group's 株 have underperformed in London.
Who loses out?
These 出発s are 明白に 損失ing to London, 特に since the London 在庫／株 交流 is struggling to attract new listings to 取って代わる the companies that have やめる in the hope of 存在 反対するs of 願望（する） どこかよそで.?
The 政府 put 今後 提案s last summer to 演説（する）／住所 this 問題／発行する. But unless it can be solved soon, the London 株式市場s may be in jeopardy.?
Charles Hall of 仲買人s Peel 追跡（する） even （人命などを）奪う，主張するs that the UK market 'is dying'.
Such an 結果 would be 特に 損失ing for smaller companies who would, in the normal course of events, have made their market debut in London.
Is this just 影響する／感情ing London?
No. The French oil major Total may say au revoir to Paris, 長，率いるing for ? you guessed it ? New York, arguing the 移転 would help 狭くする the valuation gap between Total and the US 石油 指名するs.
Who is to 非難する for this?
The London 在庫／株 交流 has played a 役割. A New York 最初の／主要な 名簿（に載せる）／表（にあげる）ing seems to 申し込む／申し出 more 資本／首都 on 申し込む／申し出 from 投資家s. But UK 年金 基金s and 会・原則s are also in the ドッキングする／減らす／ドックに入れる for the 失敗 to support UK-名簿（に載せる）／表（にあげる）d companies. Holdings in such 会社／堅いs （不足などを）補う only about 4 per cent of their 大臣の地位s.
