"Something called the Big Bang had just happened"

The former London Stock Exchange, photographed c.1983
Creative Commons Attribution Share AlikeThe former London Stock Exchange, photographed c.1983 - Credit: Richard Hoare
The Big Bang was the name given to various reforms which were implemented in the London Stock Exchange on October 27th, 1986.

The reform programme was initiated by Margaret Thatcher's Conservative government who believed that over-regulation and elitist social networks were impairing the efficiency of the financial markets. The aim of the reforms, therefore, was to promote meritocracy and the concept of the free market.

The picture on the right shows the former London Stock Exchange at 60 Threadneedle Street in the City of London. This is where the Big Bang took place.