About

Aquis Exchange PLC is an independent 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 (FCA) and France’s Autorité des Marchés Financiers to operate Multilateral Trading Facility businesses in the UK and in EU27 respectively. In addition, Aquis Exchange PLC has received approval from the FCA to operate a bond trading market Aquis-EIX *.

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 contact Aquis on 02035976363 or Estates and Infrastructure Exchange (EIX) on 02073972898

Aquis Exchange 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.

Key differentiators

Subscription pricing

Unique subscription pricing model based on message count rather than basis points on value traded. Passive messages are free. The highest subscription tier allows unlimited trading. Aquis Exchange is the first European trading venue to introduce and operate wholly on a subscription pricing model. Subscription pricing is available in the Document Library.

No aggressive non-client proprietary trading

Lit order book that does not allow aggressive, non-client, proprietary trading, giving Aquis Exchange significant liquidity at the touch, often better prices and more tradable liquidity than any other alternative platform.

Low market impact

Lowest market impact among lit equity trading venues in Europe. Independent data from LiquidMetrix shows that a trade on Aquis is less likely to lead to a price movement than on other lit markets.

Market at Close (MaC) order type

Market at Close (MaC) order type, allows Members to enter orders for matching on the Aquis platform at the closing price of the market of listing end-of-day auction.

"Aquis frequently has the best price on its own, the deepest liquidity, the lowest cost of trading and the fastest technology, making it an essential venue for brokers’ best execution requirements."

Source: LiquidMetrix