Although the PLUS stock exchange made further progress in its development in 2009, it was an extraordinarily difficult year for exchanges and this was reflected in the financial results for PLUS for the year.
However, this results announcement comes only a month after PLUS announced changes to its Board in February 2010, with Giles Vardey taking over as Non-Executive Chairman and Cyril Theret as Chief Executive.
Today PLUS also announces that it has launched a comprehensive strategic review. This will look to:
- Align costs to existing revenues;
- Drive new sources of revenues; and
- Fully activate PLUS’ primary listing capability as a Recognised Investment Exchange.
As previously stated in February, this will include PLUS diversifying its listing product portfolio and extending its geographical reach, while developing its trading services through moving into electronic execution. In the meantime, PLUS is promoting its PLUS-quoted market aggressively by increasing the visibility and quality of its issuers. In 2009 PLUS saw 82 billion shares worth £52 billion reported on the exchange.