London Stock Exchange welcomes Aquis Exchange PLC to AIM
Aquis Exchange PLC (AQX.L), the independent, pan-European equities exchange operator and technology services provider, was today welcomed to London Stock Exchange to celebrate its successful admission to AIM.
The Company operates a pan-European cash equities trading exchange, the Aquis Exchange Multilateral Trading Facility (MTF), and develops and licenses exchange software to third parties through its Aquis Technologies division. Aquis Exchange, which is authorised and regulated by the UK Financial Conduct Authority operates a lit order book for top stocks from 14 European markets. A disruptive market force, Aquis is unique in not allowing aggressive non-client proprietary trading. As confirmed by independent third-party studies, this means that toxicity and signalling risk are lower on Aquis than other trading venues in Europe.
Aquis is also differentiated in the market by its innovative subscription pricing model, which works by charging users according to the message traffic they generate, rather than a percentage of the value of each stock that they trade.
The IPO placing raised gross proceeds of approximately £32.1million, including £12 million raised for the Company, which will be used to drive the sales and marketing function of its MTF business and to invest further in growing its technology development and licensing operations. At the placing price of £2.69, the Company will have a market capitalisation of approximately £73 million.
Aquis Exchange founder and CEO Alasdair Haynes, said:
"This is a proud day for us. Our admission to AIM represents an important milestone for the evolution of Aquis. We have built this business up in the six years leading up to the new MiFID II regulation and feel we are now ideally placed to benefit from its clear objectives of driving greater transparency and Best Execution. I would like to thank the Aquis team and all our advisers who have helped us get to this stage and I look forward to the next phase of our growth with great enthusiasm and optimism."