Aquis Markets Launches Dark to Lit Sweep Functionality on UK and EU Platforms
- Jun 6, 2023
Aquis Markets, the pan-European equities trading division of Aquis Exchange PLC, is pleased to announce the launch of its new 'Dark to Lit Sweep' functionality on its UK and EU platforms. This innovative feature enables members to sweep from Aquis' dark book, the Aquis Matching Pool (AMP), to the lit book with a single order.
By utilizing Aquis Dark to Lit Sweep, members can take advantage of Aquis' low latency technology to secure the best possible price across both order books, while minimizing market impact. Members have the option to set their order for cancellation if no immediate opposing order is found on either book. Alternatively, they can choose to rest their order on the lit book until a buyer or seller matches the remainder of their order.
A variation of Dark to Lit Sweep is also available for liquidity providers and non-client proprietary business, who can use the Dark to Lit Post-Only (DLPO) option to check AMP for any mid-point liquidity before posting the remainder of their order on the Lit book.
David Stevens, Chief Revenue Officer at Aquis, commented: "At Aquis, our priority is to offer our members multiple options to execute their flow with minimal impact and cost. That's why we introduced our dark pool (AMP) a year ago and continue to enhance the functionality of Auction on Demand (AoD). In 2023, we plan to expand our range of order types and functionalities. Dark to Lit Sweep is a natural extension of our overall strategy and enables members to access AMP and the unique attributes of our lit book with maximum efficiency.
If you would like to learn more about Dark to Lit Sweep, please email [email protected],
Aquis launches Dark to Lit Sweep, providing easier access to liquidity across both order books
Aquis Markets, the pan-European equities trading division of Aquis Exchange PLC, has launched new 'Dark to Lit Sweep' functionality on its UK and EU platforms. Dark to Lit Sweep allows members to sweep from Aquis' dark book, the Aquis Matching Pool (AMP), to the lit book with a single order.
Using Aquis Dark to Lit Sweep, members can further benefit from Aquis' low latency technology to find the best possible price across both order books, while keeping market impact low. Members can choose for their order to be cancelled if no immediate opposing order is found on either book, or they can rest on the lit book until a buyer/seller matches with the remainder of their order.
A variation of Dark to Lit Sweep is also available for liquidity providers and non-client proprietary business, who can use the Dark to Lit Post-Only (DLPO) option to check AMP for any mid-point liquidity before posting the remainder of their order on the Lit book.
Aquis added dark trading to its suite of trading services in 2022 after assuming the assets of UBS MTF, subsequently migrating it onto in-house technology and launching an EU equivalent alongside AMP UK. AMP has seen a 25% increase in average daily value traded in April 2023 compared to April 2022 and added 6 additional users.
David Stevens, Chief Revenue Officer, said:
"At Aquis we are intent on offering our members multiple options to execute their flow with as minimal impact and cost as possible. That is why we launched our dark pool (AMP) a year ago and continue to enhance the functionality of Auction on Demand (AoD). We intend to further expand our range of order types and functionality in 2023. Dark to Lit sweep is a natural extension of our overall strategy and will let members access AMP and the unique attributes of our lit book with maximum efficiency."
To learn more about Aquis Markets, visit:https://www.aquis.eu/markets
Enquiries:
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Aquis Exchange PLC Alasdair Haynes, CEO Richard Fisher, CFO Adele Gilbert, Head of Marketing |
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VSA Capital Limited (AQSE Corporate Adviser)
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Andrew Raca |
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Liberum Capital Limited (Nominated Adviser and Joint Broker
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Chris Clarke Clayton Bush Edward Thomas Kane Collings |
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Canaccord Genuity Limited (Joint Broker)
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Emma Gabriel Patrick Dolaghan |
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Alma PR (Financial PR Adviser)
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Josh Royston Kieran Breheny Pippa Crabtree |
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About Aquis Exchange PLC
Aquis Exchange PLC ("Aquis") is a creator and facilitator of next-generation financial markets, through the provision of accessible, simple and efficient stock exchanges, trading venues and technology.
Aquis consists of three divisions: Aquis Markets, a subscription-based exchange offering pan-European cash equities trading; Aquis Technologies, which develops and licenses next-generation exchange technology globally; and Aquis Stock Exchange, a growth and regulated primary exchange delivering capital to companies via the listing and trading of shares.
Aquis Markets operates lit and dark order books, covering 16 European markets. For its lit books, Aquis uses a subscription pricing model which works by charging users according to the message traffic they generate, rather than a percentage of the value of each stock that they trade and does not allow aggressive non-client proprietary trading, which has resulted in lower market impact and signalling risk on Aquis than other trading venues in Europe.
Aquis Technologies is the software and technology division of Aquis. It focuses on building better markets via the creation and licensing of cutting-edge, cost-effective exchange infrastructure technology and services, including matching engine and trade surveillance solutions.
Aquis Stock Exchange (AQSE) is a stock market providing primary and secondary markets for equity and debt products. It is authorised as a Recognised Investment Exchange, which allows it to operate a regulated listings venue. The AQSE Growth Market is divided into two segments 'Access' and 'Apex', with different levels of admission criteria. The Access market focuses on earlier stage growth companies, while Apex is the intended market for larger, more established businesses.
Aquis is authorised and regulated by the UK Financial Conduct Authority and France's Autorité de contrôle prudentiel et de résolution and Autorité des Marchés Financiers to operate Multilateral Trading Facility businesses in the UK & Switzerland markets and in EU27 markets respectively. Aquis Exchange PLC is quoted on the Aquis Stock Exchange and on the Alternative Investment Market of the LSE (AIM) market. For more information, please go to www.aquis.eu.