Aquis Exchange profit grows as diversified model helps trading platform weather economic turbulence
Aquis Exchange posted “another year of significant growth” despite difficult conditions as the stock exchange operator saw revenue and profit climb from last year.
In 2022 pretax profit climbed 27 per cent to £4.5m, up from £3.6m last year. Its revenue also grew 24 per cent to £20.1m.
The firm said this reflected expansion in its technologies division, which provides regulatory and exchange technologies, and a strong performance in its European-wide stock market trading.
Revenue from technology licensing in 2022 grew 51 per cent, reflecting the increasing interest in the company’s technology.
Although the company saw “major economic headwinds”, it said its “diversified business model” allowed it to navigate the difficulties.
Membership of Aquis Market grew to 41, up from 38 last year. The Aquis Exchange also delivered 22 IPOs in 2022, more than any other growth exchange in the UK.
Aquis also maintained a market share above five per cent in its European secondary market trading business.
Chief Executive Alasdair Haynes said the results reflect “another year of significant growth”.
“From the fledgling pan-European secondary market equities trading platform that we launched a decade ago, it is edifying to see Aquis transform into a profitable and growing group that creates and facilitates next-generation financial markets,” he continued.
The company said it has seen an “encouraging start” to 2023 and is trading in line with expectations.
Aquis said it has a pipeline of between 50 and 60 companies looking to IPO and it expects the growth of the exchange to continue throughout 2023.
Aquis launched in 2012 as a competitor to exchanges such as the London Stock Exchange and Cboe Europe.