Companies
PLUS Markets beefs up operations
PLUS Markets
intends to raise £25m through a share placing amid rising competition to
established exchanges ahead of the EU’s
MiFID. MiFID is part of the EU’s plan to create a single market and
regulatory regime, and will remove some of the rules acting as barriers to
exchange competition.
PLUS Markets said it intends to use the placing’s
proceeds to improve in trading platforms in expectation of MiFID, recruit and
retain high-calibre staff, expand sales and promote new trading services.
The exchange also intends to appoint Brian Taylor as its
chief financial officer – succeeding Darren Francis – and Ian Salter and Giles
Vardy as non-executive directors. Simon Brickles, PLUS Markets chief executive,
said the new appointments would ensure the company has the leadership necessary
to develop into a fully competitive London stock exchange.
Links
PLUS Markets
MiFID
January, 2007 |
