Pan-European cash equities trading MTF, Aquis Exchange, has achieved a record market share of 3.17 per cent for continuous trading for the month of August, up from 2.66 per cent in the previous month. On 23 August, market share hit an all-time high of 3.49 per cent.
The value of shares traded hit EUR21.7bn in August, versus EUR19.2bn in July and average daily volume was up 8.3 per cent on the trailing month. Other highlights include a market share of 4.89 per cent in the top Swiss stocks (SMI 20) and 4.71 per cent in the UK’s FTSE 250.
Aquis Exchange, which is authorised and regulated by the UK Financial Conduct Authority operates a LIT order book for top stocks from 14 European markets. A disruptive market force, Aquis is unique in not allowing aggressive non-client proprietary trading. As confirmed by independent third-party studies, this means that toxicity and signalling risk are lower on Aquis than other trading venues in Europe. Aquis is also differentiated in the market by its innovative 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.
Alasdair Haynes (pictured), CEO of Aquis Exchange, says: “This is an important chapter in the development of the Aquis story. Today’s statistics validate our business model and put us firmly in the top tier of European exchanges. Crucially, this landmark fulfils – well ahead of time – the prediction made at our June IPO that we would achieve 3 per cent market share by the end of 2018. I would like to thank our Members for helping us achieve this target and for their continued support.”