PLUS Markets Group plc (“PMG”) today welcomes Ed Balls’ statement on Trading in Financial Instruments.
PLUS Markets Group is itself in the process of applying for Recognised Investment Exchange (“RIE”) status. However, the new proposals by HM Treasury will remove several outstanding obstacles to competition and put PLUS Markets Group on a level playing field with other exchanges.
In particular the proposals, subject to further consideration by the FSA, will enable PMG to offer competitive quote and trading services for the full range of AIM companies on the PLUS platform.
The proposals will also enable PMG to offer a platform for listed securities such as REITS and will remove existing differential tax treatment on an range of securities.
Simon Brickles, Chief Executive Officer at PLUS Markets Group plc, commented: “We are very pleased to hear today’s proposals. We have an outstanding Economic Secretary to the Treasury who is willing to challenge private sector monopolies for the benefit of customers. The result will be to bring down the cost of trading equities in London by increasing competition and offering users a choice unencumbered by tax and regulatory penalties.”
