Interdealer broker Icap has announced the launch of Icap Securities & Derivatives Exchange (ISDX), the remodeled version of the Plus Stock Exchange (Plus SX) acquired earlier this year.
Icap purchased Plus SX on 21 June 2012, following a fire sale of assets by the beleagured parent company, Plus Markets Group. In announcing the launch of ISDX, Icap also said that it would be working on stricter rules on market listings for companies, in order to "focus on increasing the quality of the companies listed on the exchange".
ISDX, like Plus SX, will still cater for small-to-mid-cap businesses. Peel Hunt and Shore Capital will act as initial Market Makers on the exchange.
"As someone who has founded and grown a business I know how important it is to be able to access development capital," says Michael Spencer, group CEO of Icap. "I'm very pleased that Icap is providing SMEs with a well-run and well-supported listings venue, with a clear and transparent route to market, to support their long-term growth ambitions. SMEs are vitally important to the UK economy and Icap is committed to developing ISDX for the benefit of the whole business and financial community."
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