Aquis Exchange PLC, the exchange services group, announced this Thursday that its fully-owned subsidiary in France, Aquis Exchange Europe, has secured approval from the relevant authorities to operate a multilateral trading facility (MTF) in the country ahead of Brexit.
Aquis Europe authorization allows the group to avoid Brexit interruptions
The authorization of the new company will allow the group to continue its cross-border operations and provide stock trading services to its members across Europe, avoiding any potential disruption as a result of Brexit.
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At the moment Britain is facing the real possibility of crashing out of the European Union (EU) at the end of March unless the region can come to an agreement with the bloc that will allow cross-border trading without interruptions.
Specifically, the authorization was secured from the Autorité de Contrôle Prudentiel et de Résolution (ACPR) and Autorité des Marchés Financiers (AMF). The new company has an office in France’s capital city, and it is classed as an investment firm with the authorization to operate an MTF, the statement said.
The current Head of Sales and Business Development at Aquis Exchange PLC, Graham Dick, will head the firm and will relocate to Paris to take on the role as the Chief Executive Officer (CEO) of the European subsidiary.
Commenting on the news, Alasdair Haynes, the CEO of Aquis Exchange, said: “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 EU-27 – we are now very well positioned to offer our Members an uninterrupted service, whichever form Brexit takes. I would also like to thank our Members again for their on-going support and wish Graham all the best in his new role.”