Aquis Exchange gets approval to launch in Paris ahead of Brexit

Exchange services group Aquis Exchange announced on Thursday that its wholly-owned French subsidiary, Aquis Exchange Europe, has received approval from the relevant French authorities to operate a multilateral trading facility (MTF) in Paris.

The AIM-traded firm said that would enable its to continue providing stock trading services to its members across Europe, following the UK's planned departure from the European Union, which its board noted could be as soon as the end of March.

Aquis Exchange said it had received approval from the French authorities Autorité de Contrôle Prudentiel et de Résolution (ACPR) and Autorité des Marchés Financiers (AMF).

The new company, Aquis Exchange Europe, had an office in Paris and was classed as an investment firm, authorised to operate a multilateral trading facility.

Graham Dick, currently the company’s head of sales and business development, would relocate to Paris and assume the role of CEO of Aquis Exchange Europe.

“We are delighted to have secured an avis favorable from the ACPR and AMF well ahead of Brexit and feel confident that with two MTFs - one in the UK and one within the EU27 - we are now very well positioned to offer our members an uninterrupted service, whichever form Brexit takes,” said Aquis Exchange chief executive officer Alasdair Haynes.

“I would also like to thank our members again for their ongoing support and wish Graham all the best in his new role.”