Capital Communications to handle PR in LSE launch

London Stock Exchange bosses are stepping up their communications activity surrounding the launch of the UK's first covered warrants market.

The LSE is embarking on a PR drive to increase understanding and raise awareness of covered warrants which, until a recent Financial Services Authority ruling, could not be directly marketed to retail investors in the UK.

Capital Communications has won a competitive pitch to assist the LSE with launching the market, due to go live on 28 October.

The win coincides with Capital's appointment as the first retained external PR agency for the LSE's Regulatory News Service.

It is understood that up to four agencies pitched for both briefs, for which the LSE held separate pitches, co-ordinated by The Haystack Group.

Covered warrants - a form of securitised derivative which give holders the right, but not obligation, to buy or sell an underlying asset at a specified price during a specified time period - are already widely traded across Europe.

Capital managing director Steffan Williams said they are targeting the UK banking community, which will issue covered warrants, and private investors.

Capital's role as PR adviser to regulatory news distributor RNS will see the agency implement B2B and media relations work, to launch a number of yet-to-be-announced services and help maintain the service's position at the top of its sector, which was opened up to competition in April.

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