LSE to launch covered warrants market

LSE to launch covered warrants market

The London Stock Exchange says it will launch a new market for trading in covered warrants by the end of September.

The decision springs from the opening up of covered warrants to retail investors through the introduction of a new FSA regulatory structure. The LSE says it will provide investors with geared exposure to a wide range of different products, from overseas companies not already traded on the Exchange to equities, indices and equity baskets.

The Exchange claims strong issuer support for the launch of the market, citing interest from BNP Paribas, Commerzbank, Dresdner Kleinwort Wasserstein, Goldman Sachs, JP Morgan, Merrill Lynch, Societe Generale and Trading Lab.

Trading will be available through a new segment on Sets, the Exchange's electronic order book, or through its RSP Gateway which is used to route messages between stockbrokers and Retail Service Providers (RSPs).

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