Share is selling its small company trading platform ShareMark to newly-formed small company trading business Asset Match for £100,000 plus a 1% stake in the purchaser.
Asset Match (www.assetmatch.com) plans to offer investors the chance to trade in the shares of profitable unlisted private companies. It is unclear if it has started trading in any shares as yet. The ShareMark deal will bring the brand name, corporate customers and website. Share retains the rights to operate the multilateral trading facility, together with intellectual property of the trading algorithm, as well as the regulatory responsibility. Share is contracted to operate the facility for two years under the Asset Match name. This involves monthly service payments and a share of revenues.
Asset Match was authorised by the FSA on 16 August 2012. The firm was founded by Stuart Lucas and Iain Baillie. The former is a non-executive director of Daniel Stewart.
Share will concentrate on its broking business, The Share Centre, and funds business Sharefunds.
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