News blog
Plus Markets Group
- BY: Andrew Hore |
- POSTED: 29/05/2009 |
Plus Markets Group has settled its litigation with the London Stock Exchange and this means that it will be able to trade in all Aim shares.
Plus Markets and the LSE have come to an out of court settlement and each has agreed to pay their own costs. Plus has waived its damages claim.
Market makers will be able to quote and trade report in all Aim companies without any additional reporting requirements. The LSE will change its rulebook to allow this to happen.
Plus Markets has agreed to provide real-time trading data to the LSE.
This agreement will come into force by 1 September at the latest.
In April 2009, the average number of daily trades was 47,639. The value of shares traded was double the previous year.
According to Thomson Reuters Plus Markets accounted for 5.84% of on-exchange trading by volume. That market share is likely to be lower in money terms.
Shares in Plus Markets rose 2.75p to 8p each, which values the company at £25.2m.
Plus Markets Group is a London-based stock market operator. There are three tiers: Plus-quoted (the old Ofex market), Plus-listed and Plus-traded.
Plus-quoted is for small growing companies. Mears Group was the first company on Plus-listed, which is the equivalent of the Main Market.
Plus-traded covers companies that are already quoted on the Main Market and Aim.
Plus-Europe is a link-up with the Munich Stock Exchange.
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