Aquis Stock Exchange gains equivalence for dual quotations with the Frankfurt Stock Exchange
Aquis Stock Exchange (AQSE), the primary and secondary trading business of exchange service group Aquis Exchange PLC, has been granted equivalence status by the Frankfurt Stock Exchange’s Open Market. This means companies with a quotation on AQSE can seek a dual quotation on the Frankfurt Stock Exchange and vice versa.
With its fully electronic Xetra market and its floor trading venue, the Frankfurt Stock Exchange is one of the largest exchanges in the world and continental Europe’s largest. The Open Market in Frankfurt mainly trades foreign shares, bonds of German and foreign issuers, certificates and warrants in addition to German shares. Currently 44,366 international securities are tradable in the Open Market.
For companies considering a dual listing for AQSE securities on the Frankfurt Stock Exchange, advantages include better access to the German-speaking financial community, which has Europe’s largest retail investor community, and stocks become accessible to certain German funds that only allow investment in companies with a domestic listing.
Dual listing is a simple process, which carries minor cost implications and, crucially, has no additional reporting or compliance requirements. The arrangement between AQSE and Frankfurt was effective from 3 May 2021.
Commenting on the development, Aquis Exchange PLC CEO, Alasdair Haynes, said:
“We are very pleased to have reached this agreement with our German counterparts to allow AQSE-quoted stocks to list in Frankfurt and thus gain simpler access to investors beyond the UK. In return, we look forward to having German stocks come to us to benefit from AQSE’s unique liquidity pool, narrow spreads and institutional support base. The strategy at Aquis is to constantly innovate to improve our offering for the sake of issuers, investors, be they institutions or private individuals, and the economy overall.”
AQSE already has a dual listing arrangement with OTC of the US.
Notes to editors:
Aquis Exchange PLC is an exchange services group, which operates pan-European cash equities trading businesses (Aquis Exchange), growth and regulated primary markets (Aquis Stock Exchange/AQSE) and develops/licenses exchange software to third parties (Aquis Technologies).
Aquis Exchange is authorised and regulated by the UK Financial Conduct Authority and France’s Autorité des Marchés Financiers to operate Multilateral Trading Facility businesses in the UK and in EU27 respectively. Aquis operates a lit order book and does not allow aggressive non-client proprietary trading, which has resulted in lower toxicity and signalling risk on Aquis than other trading venues in Europe. According to independent studies, trades on Aquis are less likely to lead to price movement than on other lit markets. 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.
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 Technologies is the software and technology division of Aquis Exchange PLC. It creates and licenses cutting-edge, cost-effective matching engine and trade surveillance technology for banks, brokers, investment firms and exchanges.
Aquis Exchange PLC (AQX.L) is listed on the Alternative Investment Market of the LSE (AIM) market. For more information, please go to www. aquis.eu
