Covered warrants offer member firms, whether as issuers or brokers, an exciting new product and the opportunity to develop a new, profitable line of business.

Benefits of Listing & Admission to a Regulated Market

• Admission to the London Stock Exchange’s Main Market, an EU-Regulated Market under MiFID, ensures highest standards of disclosure and regulatory oversight.
• Transparency offered by continuous market maker quoting on electronic order-book.
• Added flexibility of off-book trading on-exchange.
• Price and trading data disseminated to over 140K terminals worldwide in addition to end investors worldwide via Exchange data feeds, ensuring global reach.
• Allows product providers to leverage the London Stock Exchange’s extensive distribution.

Market Model

• Covered warrants  trade in an electronic, order-driven trading service where the market maker, who is also the issuer, is obliged to provide two-way prices at a minimum size and maximum spread throughout the trading day and for the lifetime of the instrument.
• ‘Off-book’ instruments are also supported which are available for trade reporting only. Participants wanting to trade these instruments should contact the issuer directly.
• Trades are normally cash settled bilaterally between participants.