The Aquis Stock Exchange: A Key Platform for SMEs
ISDX has been rebranded as Aquis Stock Exchange (AQSE) since 2016. Aquis Exchange acquired ISDX from ICAP in 2016, and the focus shifted to expanding the exchange’s operations with new strategies to attract small- and medium-sized enterprises (SMEs)
In addition to shares listed on the Alternative Investment Market (AIM) and those included in the FTSE Small Cap and FTSE Fledgling indexes, the Aquis Stock Exchange (AQSE)—formerly known as ISDX (ICAP Securities and Derivatives Exchange)—stands out as another recognized investment exchange in the UK. Acquired by Aquis Exchange PLC in 2016, AQSE is designed to help small- and medium-sized enterprises (SMEs) gain access to public markets and raise growth capital.
AQSE is a rebranded version of the old PLUS Markets (previously OFEX), with a focus on creating an accessible market for early-stage and growing companies. Its dual-tier structure includes:
- Access Market: Tailored for early-stage businesses seeking their first steps in public trading.
- Apex Market: Designed for larger, more mature companies, offering greater visibility and access to institutional investors.
A Competitor to AIM with a Unique Focus
AQSE operates as a competitor to AIM, offering a more flexible and cost-effective entry point for companies. While AIM is backed by the London Stock Exchange (LSE), AQSE has carved a niche in providing an accessible platform for SMEs without the stringent listing requirements of larger exchanges. This has made it an attractive option for businesses in diverse sectors, including technology, fintech, leisure, and real estate.
Market Accessibility and Operations
AQSE offers both a primary market for SMEs listing their shares and a secondary market for trading services. The exchange supports the trading of all London-listed stocks, including AIM shares and select European securities. Real-time market data ensures transparency for investors. Shares can be bought and sold via brokers like Interactive Investor and Barclays, though broker coverage remains less comprehensive than AIM.
Notable Companies and Sectors
As of 2024, AQSE hosts a growing number of SMEs with an emphasis on innovation-driven sectors. Notable recent listings have included companies in the technology, renewable energy, and life sciences fields. Its historical focus on leisure, hotels, and retail remains strong, with businesses leveraging AQSE to raise funds and expand.
Challenges and Opportunities
While AQSE has successfully positioned itself as a stepping stone for companies aiming to join larger exchanges like AIM, it faces challenges such as lower liquidity and limited analyst coverage. However, its streamlined regulations, competitive costs, and focus on transparency have made it a valuable platform for SMEs looking to build their market presence.
With continued innovation and support from Aquis Exchange PLC, AQSE is well-positioned to grow as an accessible and dynamic investment exchange in the UK.
