WSE Confirms Acquisition of Aquis Exchange Stake
The WSE has acquired 384,025 shares, or 36.23 percent, of UK-based Aquis Exchange, which will confer the right to 30 percent of votes and a 30 percent share of profit.
"Many people were surprised that a Central and Eastern Europe (CEE) exchange would have such ambitious development goals," says Adam Maciejewski, president of the management board of the WSE. "We can now report that our words have been turned into action: We have finalized the acquisition of shares of the pan-European trading platform Aquis Exchange. But the challenges do not end here. There is plenty of work to be done to develop the project and to achieve the goals that we have set. With our engagement in the Aquis Exchange project we not only diversify our activity but also open access for Polish brokers and investors to the biggest stocks listed on the most advanced European markets."
Aquis Exchange, which was launched in November 2013, is a Financial Conduct Authority (FCA)-regulated multilateral trading platform offering trading in large European stocks. The venue, a brainchild of former Chi-X Europe CEO Alasdair Haynes, also offers subscription pricing based on a model similar to that of the telecoms industry where members are charged according to the message traffic they generate, rather than a percentage of the value of each stock that they trade.
The deal closed for a total of £5 million ($8.3 million).
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