New pan-European trading platform Aquis Exchange has confirmed a new provisional launch date of November 14, subject to approval from the Financial Conduct Authority.
Aquis is looking for regulatory approval to operate its equities venue as a multilateral trading facility. The new exchange will attempt to build liquidity using a tiered subscription pricing model based on similar models used in the telecommunications industry. It will be run by former Chi-X Europe CEO, Alasdair Haynes.
Aquis yesterday announced Adam Maciejewski, CEO of Warsaw Stock Exchange (WSE), Pawel Czupryna, senior WSE advisor, and Peregrine Holdings' founder Sean Melnick have joined the board as shareholder representatives.
In addition to heading up WSE, Maciejewski is the chairman of the supervisory boards of the Polish Power Exchange and BondSpot, a fixed income market operated by WSE.
Czupryna works as advisor to the president and CEO of WSE. He also held roles at Barclays Capital, Deutsche Bank and Raiffesien Centrobank.
In August, the firm announced the WSE had acquired a 30% stake in Aquis for £5 million, valuing the venue at £16.5 million.
Speaking on his appointment, Maciejewski said: "WSE's business partnership with Aquis Exchange is set on solid and well thought-out foundations. Our cooperation aims at developing mutually beneficial innovations in the European equity markets.”