Aquis reports healthy results despite market share drop

London listed, pan European exchange group Aquis reported a 42% jump in net revenue to £16.2 million in 2021 from £11.4 million in 2020 while pre-tax profit surged 540% to £3.2 millon, from £470,395 the previous year.

Drilling down, Alasdair Haynesexchange revenues, rose by 26% to £9.8 million due to increased activity levels and the addition of new members.

Meanwhile, data revenues climbed to £2.3 million, up 159% from the year prior while licensing revenues soared by 90% to £4.4 million.

However, market share in the second half of last year dropped 6% from the second quarter to the fourth because of increased market volatility, the industry-wide shift to dark trading venues and a change in strategy of one designated liquidity provider.

Earlier in March, the exchange assumed the business activities of UBS MTF, the non-displayed matching pool of UBS MTF Ltd. which is a subsidiary of UBS AG.

Once the deal is closed – expected in early Q2 – the trading platform will be called Aquis Matching Pool and the group expects it to have a small positive impact on this year’s results.

Dark trading is expected to increase now that the UK has lifted restrictions in the post Brexit era.

The government announced plans to remove double volume caps on how much share-trading can occur on dark pools and repeal the so-called share trading obligation that determines where equities must be bought and sold.

“We have shown we are able to not only withstand periods of intense volatility and uncertainty but to continue growing and investing throughout them. This gives us great confidence going forward,” said Alasdair Haynes, the chief executive officer.

He added, “Looking forward, heightened volatility and uncertainty stemming from the wider geo-political environment is set to continue, but nonetheless, we remain focused on the execution of our growth strategy and delivering increased value for our stakeholders.

Trading so far has been in line with market expectations and we approach the remainder of the year with a positive outlook,” he added.

 

©Markets Media Europe 2022

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