Friday 25th April 2008
PLUS trading tops £3 billion
The value of trades on PLUS was £3.04 billion last month, according to data released by the tertiary market. Some 364,000 trades were made, an average of 19,159 per day, against 16,554 a day on AIM.
PLUS has hailed the figures as a vindication of the trading platform it launched in November, which it claims allows it to process larger transaction volumes.
It says that for the last three months PLUS has exceeded AIM’s average number of daily trades, and that over the same period the majority of trades in over 600 UK-listed small and mid-cap companies took place on PLUS.
Since the launch of its new trading platform, PLUS has also increased its share in the trading of certain FTSE 100 companies. During March the market accounted for 3.5 per cent of trade in Royal Bank of Scotland shares, for instance, up from 3.3 per cent in February and 2.5 per cent in January.
The news comes as PLUS was named best trading platform by World Finance magazine. Chief technology officer Brian Taylor comments: ‘We’re delighted to receive this recognition. We delivered a MiFID-compliant trading solution in six months, whereas other exchanges take two or three years.’
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