THE TRADE: AQUIS TO PROVIDE TECHNOLOGY FOR STARTUP SOUTH AFRICAN EXCHANGE
London-based trading venue operator Aquis Exchange has signed its first software licencing transaction with a South African group.
A2X, a South African exchange, will be supplied with Aquis’ trading platform, clearing and surveillance systems and support services.
A2X has been launched to provide competition to the incumbent Johannesburg Stock Exchange.
Alasdair Haynes, CEO of Aquis, said: “This is a major development for us. Aquis has developed market leading exchange technology systems which has enabled us to enter the software licensing market and we are delighted that A2X has chosen to partner with Aquis. A2X has recruited a first class team of experienced market professionals and with strong financial backing and with the support of Aquis technology A2X will provide the market in South Africa with a realistic alternative to the JSE for the first time.”
Aquis was set up by Haynes, former CEO of Chi-X Europe, and launched in 2013 to provide an alternative pricing model for pan-European equities trading. It offers subscription-based pricing modeled on the telecoms industry.