Aquis makes Brexit play with new Paris venue application

Pan-European cash equities trading MTF files applications with French regulators from new trading venue.

Aquis Exchange is planning to set up a new venue in Paris in order to provide services to its European members following Brexit.

The group which operates a pan-European cash equities trading MTF, said it has filed applications with the relevant French competent authorities.

The new company, Aquis Exchange SA, will open an office in Paris and will be classed as an investment firm, authorised to operate a multilateral trading facility.

“In ACPR and AMF we have found regulators who are completely aligned with our philosophy of competing on a level playing field, having maximum transparency and achieving best execution for the end investor,” said Alasdair Haynes, CEO of Aquis Exchange.

“The ACPR and AMF has been extremely supportive in their approach to Aquis Exchange SA’s inception. When Brexit happens, Aquis Exchange will be well positioned to continue its operations in both the UK and across the EU with minimum disruption to members.”

The announcement follows a record month in August for the trading venue, in a year which has seen Aquis nominated for The TRADE’s Outstanding equities trading venue of the year award for our Leading In Trading evening later this year.

Aquis achieved a record 3.17% market share in continuous trading in August, just months after its initial public offering (IPO).

The pan-European cash equities multilateral trading facility (MTF) saw its market share surge from 2.66% the previous month, with an all-time high of 3.49%.

Value of shares traded hit €21.7 billion in August compared to €19.2 billion in July, and average daily volume increased 8.3%. In the UK’s FTSE 250, Aquis Exchange also reached a market share of 4.71% and 4.89% in the top Swiss stocks.

The record market share followed news of Aquis Exchange’s listing on the London Stock Exchange AIM market in June. The IPO raised gross proceeds of £32.1 million, including £12 million raised for the company.