Financial Times: Aquis Exchange plans November launch
September 30, 2013
Aquis Exchange, a start-up European share trading platform, has provisionally set a date of November 14 for its launch date, according to two people familiar with the situation.
The timing is dependent on final approval from UK authorities. The London-based group was founded a year ago seeking to shake up competition in European equities trading, in part by reshaping the industry’s pricing structure.
The platform, founded by a group of former executives that built Chi-X Europe into the region’s largest equity trading platform, plans to offer a mobile phone-style “pay for what you consume” data fee for traders.
It comes as the venue announced the appointment to its board three new non-executives as shareholder representatives.
Adam Maciejewski, chief executive of Warsaw Stock Exchange, has been appointed as non-executive director. He has been joined by Pawel Czupryna, senior WSE adviser and Sean Melnick, an entrepreneur and founder of Peregrine Holdings, a South African asset management group.
Mr Czupryna is an adviser to Mr Maciejewski and has worked at Barclays Capital, Deutsche Bank and Raiffeisen Centrobank.
Mr Melnick is the founder and deputy chairman of Peregrine Holdings, the JSE-listed asset management and financial services business. Privately held Aquis declined to disclose the size of Mr Melnick’s stake.
“Their expertise in a broad spectrum of international financial service environments will be hugely beneficial to us as we move towards launch and seek to bring positive disruption to the market,” said Niki Beattie, non-executive chairman of Aquis Exchange.