.jpg)
Trading activity on PLUS leapt 220% in November (from October) to 206,442 bargains worth some £1.6 billion. This dramatic expansion in liquidity followed the successful launch of its new OMX trading platform and the significant expansion of its market offering under MiFID. Trading value was up 300% by comparison to October ’07 and volumes were up 250% as against November ’06.
Investment firms can now trade all London-listed shares via the PLUS platform, including the FTSE 100. The heaviest traded stocks on PLUS in November – mirroring heavily-traded stocks on other markets - were those in the banking sector including Barclays, Royal Bank of Scotland and Northern Rock. In Northern Rock, trading on PLUS reached a daily peak of 34% of all on-exchange trades taking place in the UK.
During the month of November, one-quarter of all daily UK retail trading activity took place on PLUS. Trading activity has continued to rise since month-end, hitting a daily peak of 15,428 trades in early December. PLUS continues to attract one-third of trades in those AIM stocks dual-trading on its market, and over 40% of trades in constituents of the FTSE Fledgling index.
Additionally, the stock coverage available for trading on PLUS will extend further prior to Christmas 2007, to offer trading in all European liquid shares (as defined by CESR), taking the number of securities on PLUS to some 7,500.
Business Development Director Cyril Théret said: ”This is just the beginning of a new growth phase for the PLUS market. One in three retail trades in the UK are now being transacted on PLUS. As our appeal grows, we continue to welcome investment firms seeking to maximise their best execution opportunities under MiFID. We look forward to working with our customers in 2008 to develop further execution facilities to meet their trading needs.
He continued: “On the basis of our November trading figures, PLUS is now the fourth largest stock exchange in Europe, by negotiated trades.* Our ambition is to become the deepest pool of small and mid-cap liquidity in Europe and the arrival of continental European stocks on our platform before Christmas will take us another step further towards that goal.”
*PLUS November no. of trades against Federation of European Securities Exchanges Monthly Statistics, October 2007, Domestic Equity Trading
Background:
PLUS Markets is an independent stock exchange in London, with “Recognised Investment Exchange” status, and classed as a Market Operator under MiFID. Its offering includes the full range of stock exchange activities, namely: trading execution, the provision of proprietary market data and listing/quotation destinations.|
Month |
Bargains |
Trade value |
Number of shares |
|
July ‘07 |
69,373 |
£452.35 m |
589.94 m |
|
August ‘07 |
63,407 |
£403.33 m |
541.33 m |
|
September ‘07 |
52,310 |
£ 353.81 m |
467.32 m |
|
October ‘07 |
64,311 |
£ 404.50 m |
537.76 m |
|
November ‘07 |
206,442 |
£1,613.69m |
948.43m |
|
(November ‘06 |
59,442 |
£311.39m |
929.20m) |
|
Total (YTD – NOV 07) |
860,184 |
£5,674.19m |
6,922.56m |
