The agreement between PLUS Markets and ICAP for the sale of the PLUS SX and its coveted Recognised Investment Exchange status provides some certainty to the small-cap community, which has been awaiting the fate of PLUS for months.
PLUS Markets has a number of different limbs which are now certain to be split apart. Most notably, it is a market operator under MIFID, (the Market In Financial Instruments Directive) which gives it recognised investment exchange status. This allows it in its capacity as a market operator to offer a regulated market and a multi-lateral trading facility. There are only four licences to operate a regulated market in operation currently in the UK and they are held by LIFFE, the London Stock Exchange, The London Metal Exchange and PLUS Markets Group. PLUS Markets also operates a de...
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