Plus Markets Divests Derivatives Exchange

The proposed transaction follows the collapse and subsequent break-up of the Plus group this summer, which has now become an Investing Company under UK Alternative Investment Market (AIM) rules. Clive Connors, who served as a director at Plus DX until December 2011, will purchase the business for a nominal sum of £10,000 (approximately $16,000), subject to regulatory approval. The business itself, according to Plus in an investor note, has no attributable profits and is loss-making.

In May, Plus announced that despite some interest in a sale from outside parties after it was put up to offer, it would seek the break-up of its group. Its exchange-in-a-box technology was bought by former Chi-X founder Hirander Misra and his Forum Trading Solutions company in June, with Icap picking up the stock exchange business, Plus SX, shortly after.