AQUIS EXCHANGE TO SET UP PARIS VENUE IN PREPARATION FOR BREXIT
LONDON – 10 September 2018 – Aquis Exchange PLC (AQX.L), the exchange services group, which operates the pan-European cash equities trading MTF, Aquis Exchange, and develops and licenses exchange software to third parties, today announced that it is establishing a new venue in Paris to ensure it is able to continue providing financial services to its Members across Europe following the UK’s planned departure from the European Union (Brexit), which may be as soon as end March 2019.
Aquis Exchange has filed applications with the relevant French competent authorities: Autorité de Contrôle Prudentiel et de Résolution (ACPR) and Autorité des Marchés Financiers (AMF). The new company, Aquis Exchange SA, will open an office in Paris and will be classed as an investment firm, authorised to operate a multilateral trading facility. These plans are in line with the Brexit preparedness statement Aquis Exchange made at the time of its Initial Public Offering in June 2018.
Alasdair Haynes, CEO of Aquis Exchange, said:
“In ACPR and AMF we have found regulators who are completely aligned with our philosophy of competing on a level playing field, having maximum transparency and achieving Best Execution for the end investor. The ACPR and AMF has been extremely supportive in their approach to Aquis Exchange SA’s inception. When Brexit happens, Aquis Exchange will be well positioned to continue its operations in both the UK and across the EU with minimum disruption to Members. I would also like to thank our Members for their on-going support.”
*About Aquis Exchange
*Aquis Exchange PLC is an exchange services group, which operates a pan-European cash equities trading exchange (Aquis Exchange) and develops and licenses exchange software to third parties (Aquis Technologies).
Aquis Exchange PLC (AQX.L) is listed on the London Stock Exchange’s AIM.
Aquis Exchange is authorised and regulated by the UK Financial Conduct Authority to operate a Multilateral Trading Facility. Aquis MTF operates a lit order book and does not allow aggressive non-client proprietary trading, thus toxicity and signalling risk are lower on Aquis than other trading venues in Europe. According to independent studies, trades on Aquis are less likely to lead to price movement than on other lit markets. Aquis uses a 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.
Aquis Technologies is the software and technology division of Aquis Exchange PLC. It creates and licenses cost-effective matching engine and trade surveillance technology for banks, brokers, investment firms and exchanges.
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