Aquis will provide A2X with exchange platform, clearing and surveillance systems
LONDON – 21 July 2015 – Aquis Exchange, the subscription-based European equities exchange* has announced its first software licensing transaction.Under the terms of the deal, Aquis Exchange has agreed to supply the South African exchange A2X with a trading platform as well as clearing and surveillance systems and ancillary support services. Johannesburg-based A2X has been created to launch a competitive exchange to the Johannesburg Stock Exchange (JSE).
Commenting on the announcement, Alasdair Haynes, CEO of Aquis Exchange, said:
“This is a major development for us. Aquis has developed market leading exchange technology systems which has enabled us to enter the software licensing market and we are delighted that A2X has chosen to partner with Aquis. A2X has recruited a first class team of experienced market professionals and with strong financial backing and with the support of Aquis technology A2X will provide the market in South Africa with a realistic alternative to the JSE for the first time.”
“A2X is excited to have been able to partner with a company of Aquis’ pedigree. Aquis brings extensive exchange experience, innovative thinking, world leading exchange technology and importantly, shares our entrepreneurial culture and approach. We look forward to a long and rewarding relationship with Aquis as we introduce choice and a fresh approach to the SA market place.” said Kevin Brady CEO of A2X.
About Aquis Exchange
|*Aquis Exchange is authorised and regulated by the UK Financial Conduct Authority to operate a Multilateral Trading Facility. It was established in October 2012, launched in November 2013, and operates a pan-European cash equities trading exchange and develops exchange software. Aquis Exchange is changing the European trading landscape through its introduction of subscription pricing and innovative order types. Currently, over 90% of European equity trading in each individual country takes place on two exchanges. The aim of Aquis Exchange is to bring fresh competition into the marketplace in order to lower the trading costs maintained by the existing duopoly.Aquis Exchange’s subscription pricing works on a similar model to that of the telecoms industry and is designed to encourage participation from all categories of professional trading firm. Users are charged according to the message traffic they generate, rather than a percentage of the value of each stock that they trade. There are different pricing bands to accommodate varying degrees of usage, with a very low usage band for small firms – who are traditionally disadvantaged by the pricing structure of the incumbent exchanges. At the other end of the pricing structure, is the top category where usage is unlimited (subject to a “fair usage” policy). For more information, please go to www.aquis.eu|