Follow @dorgang

Follow @snbchf

Home › 3) Swiss Markets and News › 3.) Swissinfo Business and Economy › Swiss stock exchange SIX acquires Aquis Exchange in London

Previous post Next post

Swiss stock exchange SIX acquires Aquis Exchange in London

Published on November 11, 2024

See on Internet Archive

by
Swissinfo
My articles My site About me My videos My books
Follow on:Twitter Facebook Google +

Swiss stock exchange SIX acquires Aquis Exchange in London Keystone-SDA

Generated with artificial intelligence.

The Swiss stock exchange SIX is taking over a stock exchange service provider in the UK. With the takeover of Aquis Exchange in London, the Swiss stock exchange operator will also operate a so-called multilateral trading facility (MTF) in the future. It is thus entering new territory.

This content was published on November 11, 2024 - 10:57

+Get the most important news from Switzerland in your inbox

Aquis, which is headquartered in London and has an EU site in Paris, is active in several business areas, according to a statement issued by SIX on Monday. The company operates a multilateral trading facility (MTF) for equities in 16 European markets, licenses its own market infrastructure technologies to external clients, operates a primary market for small and medium enterprises (SMEs) and growth companies in the UK and offers market data.

Founded 12 years ago as a start-up exchange with a fixed fee model, the company is now coming under the wing of a large exchange group with more resources. The takeover by SIX reduces operational, commercial and market-related risks and offers Aquis shareholders secure value at a significant premium, Aquis CEO Alasdair Haynes was quoted as saying in the press release.

Alternative trading platform

The acquisition will turn SIX into a pan-European exchange group with traditional exchanges and an MTF business, according to the press release. MTF stands for “Multilateral Trading Facility” and is a trading system on which shares and other financial instruments are traded that are listed on traditional trading venues (such as SIX, BME or Euronext). In general, MTFs are less strictly regulated than primary exchanges.

Swiss stock exchange operator SIX suffers billion-franc loss in 2023

This content was published on Mar 13, 2024 According to SIX, without the value adjustments the Group result would have been CHF181 million, slightly lower than in 2022.

Traditional stock exchanges have been suffering from low trading volumes for some time. Alternative trading venues such as MTFs also play a role in this, as they have increasingly established themselves as a good alternative for investors. With the acquisition, SIX will now become an MTF operator itself.

These trading venues came into being in 2007 with the implementation of MiFID I (European Markets in Financial Instruments Directive). Stock exchanges could no longer demand that companies forward orders exclusively to them, which led to competition through MTFs.

SIX also intends to expand its SME business with the takeover in the UK. It is said that this offers the opportunity to create a competitive pan-European stock exchange for SMEs and growth companies. In Switzerland, SIX has been trying for some time to attract more SMEs to the stock exchange with the Sparks trading segment. So far, however, only one company has been listed in this stock market segment, which was founded three years ago.

Purchase price

As part of SIX, Aquis will continue to operate under its existing brand, but will benefit from the resources and size of SIX as well as additional investment in further development, says Bjørn Sibbern, Global Head of Exchanges at SIX. Sibbern came from Nasdaq at the beginning of the year as the new Head of Exchanges and will now be responsible for Aquis in addition to the Swiss Stock Exchange and the Spanish stock exchange BME.

The SIX Group will acquire the entire issued and to-be-issued share capital of Aquis. As part of the offer, Aquis shareholders would be entitled to 727 pence per share in cash. The purchase price for the entire share capital amounts to around £207 million (CHF234 million).

The last major takeover in the stock exchange sector was Bolsas y Mercados Españoles (BME). SIX acquired the Spanish stock exchange in summer 2020 for around €2.6 billion (CHF2.45 billion).

Translated from German by DeepL/jdp

This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles.

If you want to know more about how we work, have a look here, if you want to learn more about how we use technology, click here, and if you have feedback on this news story please write to [email protected].

Swiss village must be evacuated by midday on Sunday

This content was published on Nov 12, 2024 The village of Brienz-Brinzauls in eastern Switzerland, which is threatened by a rockfall, must be evacuated by 1pm on Sunday. All residents must leave the village.

Former Swiss judge found guilty of rape

This content was published on Nov 12, 2024 A former judge of the Graubünden Administrative Court in eastern Switzerland has been found guilty of rape, sexual harassment and threatening a former trainee.

Average Swiss monthly household income in 2022 was CHF6,900

This content was published on Nov 12, 2024 The average disposable household income in Switzerland amounted to CHF6,902 ($7,825) per month in 2022.

Costs and care time increase in Swiss retirement and nursing homes

This content was published on Nov 12, 2024 In 2023 the costs of retirement and nursing homes increased by 5% compared to 2022 and those of assistance and care at home by 7%. Together, they amounted to CHF15 billion.

Almost half of Swiss addicted to smartphones

This content was published on Nov 12, 2024 Almost half of the population in Switzerland shows clear to pronounced signs of smartphone addiction, according to a survey.

Swiss healthcare stakeholders want to save CHF300 million

This content was published on Nov 12, 2024 The main players in the Swiss healthcare sector want to save around CHF300 million ($340 million) in healthcare costs a year from 2026.

Several Swiss Alpine passes close for winter

This content was published on Nov 12, 2024 Several Alpine passes, including the Klausen Pass and the Furka Pass, closed to traffic on Monday.

Switzerland supports three gas-fired power plants abroad

This content was published on Nov 12, 2024 Swiss Export Risk Insurance (SERV) is now insuring three gas-fired power plants abroad, two of them in Vietnam and one in Turkmenistan.

Campaigners make another attempt to ban animal testing in Switzerland

This content was published on Nov 11, 2024 The popular initiative “Yes to an animal-free future” has been submitted in Bern.

SWISS extends flight ban to Tel Aviv

This content was published on Nov 11, 2024 The Lufthansa Group, which includes Swiss International Air Lines (SWISS) has once again extended its flight ban to Israel.

Full story here Are you the author?

About Swissinfo

SWI swissinfo.ch – the international service of the Swiss Broadcasting Corporation (SBC). Since 1999, swissinfo.ch has fulfilled the federal government’s mandate to distribute information about Switzerland internationally, supplementing the online offerings of the radio and television stations of the SBC. Today, the international service is directed above all at an international audience interested in Switzerland, as well as at Swiss citizens living abroad.

My articles My site About me My books
Follow on:Twitter Facebook Google +