The London Stock Exchange's covered warrants market hit a record in July in both number and value since it began in October last year, with institutions making more trades.

The LSE said in its latest covered warrants bulletin: "There is evidence of institutional interest in some warrants. In the Goldman Sachs warrant on the FTSE 100 put warrants, for example, there are six trades over the month worth an aggregate of £1.5m (€2.1m)."