PLUS Markets Group plc (“PLUS Markets”) confirms that it has admitted Cenkos Securities plc to corporate adviser membership of the PLUS market.*
Cenkos, one of the City’s leading securities firms, is already a liquidity provider on PLUS as a market maker. With its admittance to PLUS Corporate Adviser membership, Cenkos increases its involvement with the market in a new capacity. As a PLUS Corporate Adviser, Cenkos can bring companies to float on the market and represents them in this capacity for the duration of their quote.**
This addition to PLUS follows other recent arrivals. New market makers BNP Paribas, JP Morgan Cazenove and Merrill Lynch joined in January and another major bank, Bank of New York Mellon has recently shepherded the first GDR onto PLUS.
As competition among equity trading venues increases, PLUS has demonstrated a clear franchise in the small and mid-cap sectors and retail business. Its primary market activity has remained steady in extraordinarily difficult conditions while its share of secondary market trading continues to increase strongly, reaching a record high of 5.196 billion shares traded in February***. PLUS is now the third largest trading platform by volume in the UK with a total market share approaching 7 per cent.****
Last year, PLUS enjoyed positive net growth in new admissions as more and more small and mid-cap companies look to access the markets via the new exchange.
Paul Haddock, Head of Capital Markets at PLUS, said: “We are delighted to welcome Cenkos as a corporate adviser to the PLUS market. Cenkos is seeking to expand its role with PLUS and brings with it a terrific reputation in the small and mid-cap space.”
* http://www.plusmarketsgroup.com/story.shtml?ISIN=MARKETNOTICE&NewsID=20090309013&Group=Quoted
** http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=2108381&source=RNS
**** http://about.reuters.com/productinfo/compliance/mifid/material/MarketShareReport_January2009.pdf
