LONDON, Feb 2 (Reuters) - Investment firms and brokers in Britain teamed up on Thursday to back a new standalone retail platform to strengthen the role of small investors in the UK capital market.
Peel Hunt's REX distribution platform will become a standalone business in the second half of 2023 and known as RetailBook, the company said in a statement.
Jefferies, Numis and Rothschild & Co will enter into collaboration agreements with the platform with the right to buy stakes, the companies said in a statement.
Hargreaves Lansdown will enter into exclusivity agreement in relation to follow-on equity fundraisings, the statement added.
Britain is reforming its financial rules post-Brexit and is looking to copy the much deeper, broader culture of retail investment evident in the United States.
One aim is to make it easier for retail investors to participate in capital markets, a step the European Union is also working on. (Reporting by Huw Jones, editing by Sinead Cruise)
