Aquis Exchange [LON: AQX] has confirmed that it expects to report performance for FY23 in line with board expectations. Aquis is a creator and facilitator of next-generation financial markets, through the provision of accessible, simple and efficient stock exchanges, trading venues and technology.
Aquis reported today that net revenue was up 12% to £22.6m (FY22 £20.1m) and profit before tax was up 16% to £5.2m (FY22 £4.5m).
The financial markets platform breaks down into several distinct divisions which pursue their own business objectives. Part of Aquis overall strategic objective is to make European markets more accessible for companies and investors, and to operate more smoothly and efficiently.
Aquis increases its market share
Aquis Markets increased market share following changes to its proprietary trading rule in November 2023. The overall pan-European market share for December 2023 was 4.97%, up from 4.76% in November and 4.58% in October 2023. The January 2024 average to date is 5.21%.
Aquis Technologies was awarded two new technology contracts in 2023, including one for a central bank. In addition, an existing contract moved from design and consultancy to exchange delivery stage. The division now has nine contracts, seven of which have recognised revenue.
Aquis Data increased revenue by over 20% from the sale of Aquis Markets and Aquis Stock Exchange data to non-member market participants. The company said it continued to expect significant benefit from the advent of EU and UK consolidated tapes.
Aquis Stock Exchange admitted 16 new companies in 2023 – the most of any growth exchange in the UK for the second year running.
“In a year marked by uncertainty and difficult market conditions, I am really pleased to report another year of double-digit revenue growth for Aquis Exchange, alongside many successful strategic developments for the group for which we expect to see the benefits in both near and long term,” said Alasdair Haynes, CEO of Aquis EXchange. “We are well positioned for the future and look forward to delivering throughout 2024 and beyond.”
Aquis Markets operates lit and dark order books, covering 16 European markets. For its lit books, Aquis uses a 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.
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Aquis Technologies is the software and technology division of Aquis. It focuses on building better markets via the creation and licensing of cutting-edge, cost-effective exchange infrastructure technology and services, including matching engine and trade surveillance solutions.
Aquis Data generates revenue from the sale of data derived from Aquis Markets and Aquis Stock Exchange to non-member market participants.
Aquis Stock Exchange (AQSE) is a stock market providing primary and secondary markets for equity and debt products. It is authorised as a Recognised Investment Exchange, which allows it to operate a regulated listings venue. The AQSE Growth Market is divided into two segments ‘Access’ and ‘Apex’; the Access market focuses on earlier stage growth companies, while Apex is the intended market for larger, more established businesses.
