UK exchange operator PLUS Markets Group and US equities trading platform Direct Edge have signed a memorandum of understanding to cooperate on opportunities relating to the listing and trading of equities in the United States, United Kingdom and European Union.
PLUS Markets specialises in small and mid-cap UK and European equity securities. Direct Edge, an electronic communications network for trading US equities, is in the process of converting to a stock exchange regulated by the US Securities and Exchange Commission.
“We are delighted to be exploring transatlantic co-operation opportunities with Direct Edge, which has established itself rapidly in the highly-competitive US equity trading marketplace,” said Simon Brickles, CEO of PLUS Markets Group, in a statement. “Together, as the European markets adjust to a post-MiFID environment, we believe there are exciting opportunities that we can leverage.”
William O’Brien, CEO of Direct Edge, added: “PLUS Markets has followed much the same path in Europe as Direct Edge is following in the United States. It innovated, established a successful core business, broadened its offerings, made the transition to exchange status, and is now expanding its business even further.
We look forward to exploring future business opportunities together.”