Aquis is difficult rival Metropolis markets
/ PA Archivequis, the challenger inventory change with bold plans to develop into a critical competitor to bigger rivals, gave proof at this time it’s on observe for sturdy progress.
With among the Metropolis within the doldrums as a result of a scarcity of recent flotations and decrease share buying and selling, it noticed revenues leap 17% to £9.7 million within the half 12 months to June.
Revenue earlier than tax is up 64% to £1.1 million.
It noticed 5 new listings on its change within the final six months, regardless of what it admitted are “powerful market situations”.
The Aquis information, tech and markets arms additionally noticed first rate progress.
CEO Alasdair Haynes says prospects are benefiting from new presents.
He stated: “Following the profitable integration of the Aquis Matching Pool in 2022, Aquis Markets has seen elevated revenues. Now we have additionally labored to additional diversify the merchandise that will probably be made obtainable to members, including block buying and selling by way of OptimX Markets and altering our proprietary buying and selling rule to offer members better execution selection together with finest execution outcomes. These adjustments are laying the foundations for future progress in market share over the medium-term.”
EU plans to offer information on share transactions throughout a number of buying and selling platforms within the European Union must also increase earnings.
The EU is finalising guidelines to arrange information of share transactions – generally known as “consolidated tapes” – throughout the area’s many buying and selling platforms.
The purpose is to supply an aggregated feed of share costs for buyers to identify the most effective offers in a fragmented buying and selling setting.
This can embrace Aquis, which opened a hub in Paris to serve EU prospects and keep away from disruption from Britain’s monetary providers being partly lower off from the bloc as a result of Brexit.
Haynes stated even a really low degree of income from contributing information to a tape can be a fabric sum of money for Aquis.
Aquis can be ending its eight-year self-imposed ban on high-frequency merchants (HFT), who dart out and in of markets to take advantage of tiny variations in costs, from accessing its market.
Haynes, a Metropolis of London veteran who based Aquis a decade in the past, stated the ban had crimped Aquis’ means to construct up its enterprise and that within the medium time period lifting it could have a “very vital affect on market share”.