Rules & Regulations

Aquis Stock Exchange (AQSE) is a Recognised Investment Exchange under section 285 of the Financial Services and Markets Act 2000. AQSE must satisfy the requirements of the Financial Conduct Authority’s Recognition Requirements for Recognised Investment Exchanges and is responsible for maintaining neutral, well regulated and orderly markets.

This means that AQSE regulates the conduct of member firms and issuers on its markets, monitors trading and market activity, and maintains rules and guidance to provide a fair and transparent venue for raising capital and trading securities.

AQSE operates two primary traded markets and a single secondary traded market:

The AQSE Main Market is an EU Regulated Market for officially listed securities which are regulated by the UK Listing Authority or another EU Competent Authority and are subject to the AQSE Main Market Admission and Disclosure Standards (primary market).

The AQSE Growth Market is a market for unlisted securities with a regulatory framework dedicated to the needs of smaller companies. It is a Multi-lateral Trading Facility (MTF) and SME Growth Market (primary market).

AQSE Trading is a trading venue for listed or quoted securities admitted to trading on other EU markets.

 
 

Primary Rules

Aquis Stock Exchange (AQSE) Primary Rules for the AQSE Growth Market and AQSE Main Market set out the admission requirements and related guidance for both markets, as well as the continuing obligations of issuers once admitted to trading.

AQSE also maintains a rulebook for Corporate Advisers acting for AQSE Growth Market issuers, and disciplinary rules for member firms and issuers.

Please see relevant supporting documentation and guides below and in the Documents Library or contact us.
 

AQSE Growth Market Rules for Issuers Download here
AQSE Growth Market Issuer Fee Schedule 2019 Download here
AQSE Main Market Admission & Disclosure Standards Download here
AQSE Guidance Note Rule 58 (admission of new class of securities) Download here
AQSE Proforma Pre-Admission Announcement Download here
AQSE Securities Application Form Download here
AQSE Qualifying Markets for Fast-Track Download here
AQSE Appendix Checklist for Fast Track Admission Download here


Trading Rules

Aquis Stock Exchange's (AQSE) quote-driven trading platform supports trading in securities admitted to trading on the AQSE Main Market (AQSE's Regulated Market) and AQSE Growth Market as well as listed and unlisted securities traded on AQSE Trading.

The AQSE Trading Rules contain provisions relating to:

Please see relevant supporting documentation and guides below or contact us.

  • The admission of securities to trading
  • The trading rules
  • Transaction records and trade reporting
  • Market operations
  • Clearing and settlement
  • Default
  • Membership rules for broker and market maker members

 

AQSE Member terms & conditions Download here
AQSE Disciplinary Procedures Download here
AQSE Member Fee Schedule Download here
AQSE Trading Rules Download here
AQSE Trading Parameters Download here
AQSE Conformance Test Script Download here

 

Trading Hours

Aquis Stock Exchange (AQSE) operates its trading hours of 8:00 - 16:30 each weekday.

We do however recognise the Public and Bank Holidays of England and Wales, and the impact on AQSE trading services for these days is shown in our exchange calendar below.

  • 01 January 2020 New Year's Day (Closed)
  • 10 April 2020 Good Friday (Closed)
  • 13 April 2020 Easter Monday (Closed)
  • 8 May 2020 May Bank Holiday (Closed)
  • 25 May 2020 Spring Bank Holiday (Closed)
  • 31 August 2020 Bank Holiday (Closed)
  • 24 December 2020 Open 08:00 to 12:30 only
  • 25 December 2020 Christmas Day (Closed)
  • 28 December 2020 Boxing Day (Closed)
  • 31 December 2020 Open 08:00 to 12:30 only
  • 01 January 2021 New Year's Day (Closed)