AQUIS LAUNCHES IPO.
Aquis Exchange made its successful debut on AIM with shares soaring by 38% on the first day of trading giving it a market capitalisation of £101m.
The pan European equities trading platform, which was founded in 2012, aims to use the newly-acquired funds to invest in its sales and marketing divisions, as well as to increase its software licensing capabilities.
The company is hoping to capitalise on MiFID II, a set of sweeping reforms designed to increase market transparency and investor protection. Investors are normally charged a percentage of the value of each trade but on Aquis they pay a monthly subscription fee based on their average number of transactions.
Aquis is looking to increase its share of the European market from 1.9% to 3% by the end of the year. It claims that the model “should materially reduce” costs for its customers, which includes asset managers and big traders.
The company, which was founded in 2012, also differentiates itself from other trading platforms by banning “toxic” high-frequency trading, which attempts to profit from making a large number of transactions rapidly.
There is a clear regulatory drive for greater transparency in trading and a requirement for market users to show they are using the best possible venue,” Alasdair Haynes, founder and chief executive, said. “Aquis is ideally positioned to capitalise on these trends in the years to come.”