LSE puts back warrants market launch

The London Stock Exchange (LSE) has delayed the launch of its covered warrants market until September.

This is because the UK regulator, the Financial Services Authority (FSA), is revising rules and definitions for the regulation of the new market. In a consultation paper issued last November, it envisaged widening the derivatives market to allow investors direct access via the LSE by April.

Industry responses to the paper questioned whether they should be treated as derivatives because this woul