Aquis has seen another year of strong growth thanks to rising revenues in its data and technology businesses.
Data and technology saw 24% and 22% growth to £3.7 million and £6.3 million respectively, pushing Aquis’ net revenues for the year up 13% to £22.7 million.
The exchanges markets business also saw 7% growth to £10.9 million for the year.
“This makes it all the more noteworthy that Aquis was able to deliver growth across all its divisions, with significant progress made on a number of strategic initiatives, including an increase in the pan-European market share of our Aquis markets division, and a significant technology contract secured with a central bank,” Aquis chief executive, Alasdair Haynes, said in a statement.
Aquis attributed the growth in market share to changes to its proprietary trading rule in September. Market share had grown from 4.97% in December last year to 5.46% in February.
Aquis linked its technology growth to the two new contracts it was awarded last year – the most recent being for the Colombian government bond market.
“In addition, an existing contract progressed from design and consultancy to exchange delivery stage,” Aquis said in its results this morning, adding that the division now has nine contracts which have recognised revenue.
The exchange confirmed at the beginning of this month that it was set to begin charging its trading members for non-displayed market data feeds for the first time since its inception almost 11 years ago.
According to a member notice distributed on Friday 1 March, members on both Aquis Exchange and Aquis Exchange Europe will have to pay the same monthly rate as non-members for non-displayed data effective 1 June 2024. Non-display and terminal fees are now applicable to trading members, the notice confirmed.
More to follow…