Competitors to the London Stock Exchange’s Regulatory News Service have failed to gain substantial market share, as RNS has maintained its grip on the company regulatory news market. The second survey (from May to August 2002) by data technology company Knowledge Technology Solutions, found that RNS still controls almost 85% of the market. Even PRNewswire, the next most popular service, is trailing behind with only 10.5% share of the market. And Hugin, introduced two weeks after the other services, carried just 0.19% of regulatory announcements made by London listed companies.
On 15th April, RNS lost its monopoly to carry company regulatory announcements when the Financial Services Authority approved six other providers, known as PIPs (primary information providers).
In its first survey KTS used MarketTerminal Ã its real-time financial data, news and analysis product Ã to identify initial changes in the market after PIPs were introduced. Its second survey has now found that while the new entrants were gaining market share each week till early May, since then RNS has proved remarkably robust against its new competitors. During the quarter 42,777 regulatory announcements were issued.