FCA Approval of NEX Exchange Acquisition

March 4, 2020

4 March 2020

Aquis Exchange PLC

("Aquis", the "Company" or the "Group")

 

FCA Approval of NEX Exchange Acquisition

NEX Exchange to be renamed Aquis Stock Exchange (AQSE)

Aquis Exchange PLC (AIM: AQX), the exchange services group that operates pan-European cash equities trading businesses and develops and licenses exchange software to third parties, is pleased to announce that the transaction to acquire NEX Exchange Limited (“NEX Exchange”) from CME Group Inc. has been approved by the FCA. 

This acquisition, first announced on 5 July 2019, is another step in Aquis' ambition to become the leading exchange services group in Europe. Underpinned by the Group's proven technology and a track record of transparency and innovation, the Board believes that Aquis' experience in building new businesses in the exchange industry and increasing liquidity, means it has the ability to transform the old NEX Exchange business at a time when MiFID II implications and other factors make the IPO industry ripe for innovation.

Following the completion of the acquisition, which is expected shortly, NEX Exchange will be re-named Aquis Stock Exchange (AQSE) and will enter a consultation period with market participants, regulators and issuers. The Company looks forward to providing an update on its plans in due course.

In addition, the Company announces that its Non-Executive Director Glenn Collinson will step down from the Aquis Exchange PLC board and will join the board of AQSE on completion.

Alasdair Haynes, Chief Executive Officer of Aquis, commented:

"We are delighted that this acquisition has now been approved and we look forward to welcoming NEX Exchange’s staff, customers and other stakeholders to our Group. Since announcing our intention to purchase the business we have been most encouraged by the appetite for change in the industry. We look forward to building Aquis Stock Exchange into the supportive home for quality growth businesses we believe it should become.”

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (MAR).

Enquiries:

Aquis Exchange PLC

Tel: +44 (0) 20 3597 6321

Alasdair Haynes, CEO
Jonathan Clelland, CFO and COO

 

Belinda Keheyan, Head of Marketing

Tel: +44 (0) 7768 078110

Liberum Capital Limited (Nominated Adviser and Broker)

Tel: +44 (0) 20 3100 2000

Clayton Bush
Chris Clarke
Edward Thomas
Kane Collings

 

Alma PR (Financial PR Adviser)

Tel: +44 (0)20 3405 0209

Rebecca Sanders-Hewett
Caroline Forde
Susie Hudson

aquis@almapr.co.uk

 

About Aquis Exchange

 

Aquis Exchange PLC is an exchange services group, which operates a pan-European cash equities trading business (Aquis Exchange) and develops and licenses exchange software to third parties (Aquis Technologies).

Aquis Exchange PLC (AQX.L) is quoted on the London Stock Exchange’s Alternative Investment Market (AIM).

Aquis Exchange is authorised and regulated by the UK Financial Conduct Authority and France’s Autorité des Marchés Financiers to operate Multilateral Trading Facility businesses in the UK and in EU27 respectively.

Aquis operates a lit order book and does not permit aggressive non-client proprietary trading, which has resulted in lower toxicity and signalling risk 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 applies 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 security that they execute. This model can significantly reduce the cost of trading.

Aquis Technologies is the software and technology division of Aquis Exchange PLC. It creates and licenses cutting-edge, cost-effective matching engine and trade surveillance technology for banks, brokers, investment firms and exchanges.

For more information, please go to www.aquis.eu and www.aquis.technology.