Last checked at 7 Aug 2023 14:15
7 August 2023
Aquis Exchange PLC
("Aquis", the "Company" or the "Group")
Acquisition of minority interest in OptimX Markets Inc.
Aquis Exchange PLC (AQX.L), announces that on 7 August 2023 it acquired a minority stake in OptimX Markets Inc. (OptimX) a, US-based financial services start-up focused on the block trading market (the "Investment").
Created by a team of experienced equity capital markets professionals led by David Barnett, OptimX's advanced technology suite will offer investment banks, brokers and institutions the opportunity to find additional matches for order flow. Aquis will work closely with OptimX in the UK and EU combining its market-leading technology platform with the OptimX technology suite. This initiative will further expand the product suite available to Aquis members reinforcing the innovative approach Aquis brings to capital markets.
The Investment was made as part of a consortium which includes DB1 Ventures, the venture capital arm of Deutsche Boerse Group.
The Investment is split into two tranches: Aquis will subscribe US$0.75m out of a total first tranche of US$3.0m payable in cash, followed by a second tranche in 12 months of a further US$0.75m out of a total $3.0m payable in cash. The pre-money valuation of the first tranche was US$10m and the valuation for the second tranche will be finalised at the date of investment.
It is expected that Jonathan Clelland, COO of Aquis, will join the board of OptimX as a Non-Executive Director in due course.
OptimX is a new venture and so has not yet generated any profits or losses.
Aquis CEO, Alasdair Haynes said:
"The investment in OptimX is a significant opportunity for Aquis, adding additional connectivity to our successful dark pool (the Aquis Matching Pool) and providing clients with the ability to cross large blocks. This alongside Aquis's growing functionality will further enhance the range of execution options available to our members."
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR")
Enquiries:
Aquis Exchange PLC | Tel: +44 (0)20 3597 6321 |
Alasdair Haynes, CEO | |
Richard Fisher, CFO Adele Gilbert, Head of Marketing
| Tel: +44 (0)20 3597 6329 |
VSA Capital Limited (AQSE Corporate Adviser) | Tel: +44(0)20 3005 5000 |
Andrew Raca | |
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Liberum Capital Limited (Nominated Adviser and Broker) | Tel: +44 (0)20 3100 2000 |
Clayton Bush | |
Chris Clarke | |
Edward Thomas Kane Collings
Canaccord Genuity Limited (Joint Broker) Emma Gabriel Patrick Dolaghan
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Tel: +44 (0) 20 7523 8000 |
Alma PR (Financial PR Adviser) | Tel: +44 (0)20 3405 0209 |
Josh Royston | aquis@almapr.co.uk |
Kieran Breheny |
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Pippa Crabtree |
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Notes to editors:
About Aquis Exchange PLC
Aquis Exchange PLC ("Aquis") is a creator and facilitator of next-generation financial markets, through the provision of accessible, simple and efficient stock exchanges, trading venues and technology.
Aquis consists of three divisions: Aquis Markets, a subscription-based exchange offering pan-European cash equities trading; Aquis Technologies, which develops and licenses next-generation exchange technology globally; and Aquis Stock Exchange, a growth and regulated primary exchange delivering capital to companies via the listing and trading of shares.
Aquis Markets operates lit and dark order books, covering 16 European markets. For its lit books, Aquis uses a subscription pricing model which works by charging users according to the message traffic they generate, rather than a percentage of the value of each stock that they trade and does not allow aggressive non-client proprietary trading, which has resulted in lower market impact and signalling risk on Aquis than other trading venues in Europe.
Aquis Technologies is the software and technology division of Aquis. It focuses on building better markets via the creation and licensing of cutting-edge, cost-effective exchange infrastructure technology and services, including matching engine and trade surveillance solutions.
Aquis Stock Exchange (AQSE) is a stock market providing primary and secondary markets for equity and debt products. It is authorised as a Recognised Investment Exchange, which allows it to operate a regulated listings venue. The AQSE Growth Market is divided into two segments 'Access' and 'Apex', with different levels of admission criteria. The Access market focuses on earlier stage growth companies, while Apex is the intended market for larger, more established businesses.
Aquis is authorised and regulated by the UK Financial Conduct Authority and France's Autorité de contrôle prudentiel et de résolution and Autorité des Marchés Financiers to operate Multilateral Trading Facility businesses in the UK & Switzerland markets and in EU27 markets respectively. Aquis Exchange PLC is quoted on the Aquis Stock Exchange and on the Alternative Investment Market of the LSE (AIM) market. For more information, please go to www.aquis.eu.
About OptimX Markets Inc: OptimX Markets Inc. forges a new dynamic in institutional trading by restoring transparency and simplicity to sourcing block trades. Committed to preserving the fragile ecosystem between brokers and institutional investors in financial transactions, OptimX believes that great technology should enhance relationships rather than replace them, ensuring a seamless experience for both consumers and providers of liquidity. OptimX offers unique and comprehensive trading solutions in both US and EMEA capital markets. For more information, please go to www.optimx.com