LSE identifies Web advertising as new revenue stream

LSE identifies Web advertising as new revenue stream

Seemingly unperturbed by the roaring bear market in dot.coms, the London Stock Exchange has appointed a US-based media agency to tout for advertising business over its Web site.

The Exchange's Web site currently achieves some two million impressions per month from a high net worth audience of private investors, fund raisers and advisors.

Tim Ward, head of marketing at the London Stock Exchange describes the move to accept advertising as a "milestone" in the commercialisation of the Exchange following its demutualisation early last year.

He says the development may be of particular interest to member firms for whom the Exchange Web site is a first port of call. Speaking for the stockbroker TD Waterhouse, Jeff Plowman, senior vice president, says: "We will look at it very closely, as it could offer the opportunity to reach more new customers."

Following a competitive tender, the LSE has appointed Massachusetts-based Engage to manage its move into the cut-throat world of commercial advertising. Engage's media sales force has been contracted to work with agencies and advertisers to put together a range of online marketing programmes from simple banners and buttons to bespoke sponsorship deals. The first ads will start to appear in January.

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