ICAP PLC (IAP) - ICAP launches ISDX
RNS Number : 9417P
31 October 2012
ICAP launches ICAP Securities & Derivatives Exchange (ISDX)
the new small and mid cap equity listings venue for SMEs
London, 31 October 2012 - ICAP (IAP.L), the world's leading interdealer broker
and provider of post trade risk and information services, today announces the
launch of ICAP Securities & Derivatives Exchange (ISDX), the listing venue for
small and medium sized enterprises seeking access to equity capital to finance
and grow their businesses.
This launch and rebranding follows ICAP's purchase of PLUS Stock Exchange plc
on 21 June when ICAP committed to supporting and expanding the listings venue.
At ICAP's offices in London today a number of ISDX companies will present to
an audience of investors, advisors, market makers and other stakeholders.
Companies presenting are Bioventix plc, Central Asian Minerals and Resources
plc, Chapel Down Group plc, Daniel Thwaites plc, One Media iP Group plc,
Quercus Publishing plc, Shepherd Neame Ltd and Sprue Aegis plc.
At the presentation ICAP will announce a series of initiatives which have been
developed in close consultation with the market and draw on ICAP's extensive
experience and expertise as a markets operator. These include:
· the provision of increased liquidity to the market by the addition of
two leading market makers, Peel Hunt and Shore Capital, which will make
markets in ISDX's largest stocks to ensure the exchange operates as an orderly
primary and secondary marketplace;
· a focus on increasing the quality of the companies listed on the
exchange, including the introduction of a new admissions framework in 2013, to
ensure stricter common standards for companies joining ISDX and strengthen
investor confidence; and
· a new exchange website, www.isdx.com. This will provide real-time
pricing information, news, account downloads and charting information and so
allow companies to communicate more effectively with investors.
ISDX will allow companies to raise capital on the primary market and investors
to trade shares in these companies on an active secondary market. The
exchange will be a viable alternative listings venue to support the growth
ambitions of SMEs, providing them with widespread exposure to their current
and potential investors.
ICAP has established a new management team committed to the development and
success of the exchange. This team is led by Seth Johnson CEO of ICAP
Securities & Derivatives Exchangeand member of ICAP's Global Executive
Michael Spencer, Group CEO of ICAP, said:"As someone who has founded and grown
a business I know how important it is to be able to access development
capital.I'm very pleased that ICAP is providing SMEs with a well-run and
well-supported listings venue, with a clear and transparent route to market,
to support their long-term growth ambitions.SMEs are vitally important to the
UK economy and ICAP is committed to developing ISDX for the benefit of the
whole business and financial community."
Seth Johnson, CEO of ICAP Securities & Derivatives Exchange, said: "The launch
of ICAP Securities & Derivatives Exchange today is great news for smaller
companies and their investors. Companies seeking to list will benefit from a
clear and straightforward route to market. Investors will gain access to
exciting growth opportunities and with market makers committed to providing
liquidity, they will be able to trade these shares with confidence.
We are committed to the success of this exchange andas an experienced markets
operator, ICAP has the right skills and knowledge to make this the venue of
choice for SMEs seeking equity capital."
Peter Harrison, CEO of Bioventix said: "ICAP has demonstrated they are
committed to the success of this exchange as an SME listing and trading venue,
which will give companies like Bioventix widespread exposure and access to
capital. Creating a strong primary and liquid secondary market is extremely
welcome and we are delighted to be able to benefit from ICAP's vast markets
Paul Stevens, Fund Manager at Octopus Investments said: "This is an important
and dynamic part of the equities market that investors want to access. The
ability to trade these stocks with low transaction costs and immediacy of
trading makes this a very attractive market to invest through. ICAP's
commitment to this market and to providing a liquid secondary market will
ensure investors can trade these stocks with confidence."
Nick Conyerd of Market Maker Shore Capital said: "We recognise there is
investor demand to trade stocks on this exchange and are committed to
providing liquidity. In creating ICAP Securities & Derivatives Exchange, ICAP
has responded to the need for an SME equity market that can function
effectively alongside new European Union regulations and we are looking
forward to working with them to make this exchange a success."
Tim Ward, CEO of the Quoted Companies Alliance said:"There are nearly 2,000
small and mid-size quoted companies in the UK, representing 85% of all quoted
companies. Access to capital is one of the most important issues for our
members. The launch of ICAP Securities & Derivatives Exchange is great news
for all such companies. They are the UK's engines of growth and their
performance will drive our future economic success."
Serra Balls Head of Public Relations +44 (0) 20 7050 7124
Alex Dee Head of Investor Relations +44 (0) 20 7050 7123
Andy Donald Maitland +44 (0) 20 7379 5151
Notes to Editors:
ICAP is the world's leading interdealer broker and provider of post trade risk
and information services. The Group matches buyers and sellers in the
wholesale markets in interest rates, credit, commodities, FX, emerging markets
and equity derivatives through voice and electronic networks. Through our post
trade risk and information services we help our customers manage and mitigate
risks in their portfolios. For more information go to www.icap.com.
About ICAP Securities & Derivatives Exchange
ICAP Securities & Derivatives Exchange is a Recognised Investment Exchange
(RIE) under the Financial Services & Markets Act 2000. It is an equity market
for small and medium sized companies, who want to raise money from investors
to finance and grow their businesses. ICAP acquired the RIE license through
its purchase of PLUS Stock Exchange plc on 21 June 2012. For more information
go to www.isdx.com.
About Seth Johnson
Seth Johnson joined ICAP's electronic markets in November 2011 to lead the
expansion of its product portfolio. In this role he is the co-head of
BrokerTec, ICAP's fixed income electronic trading platform, and the CEO of
ICAP Securities & Derivatives Exchange.
Seth joined ICAP as a graduate trainee and has worked at the company for more
than 20 years. For ten years, he was the Managing Director of the Interest
Rates, Options and Inflation Swaps desks. He oversaw the introduction of new
and innovative trading solutions, including the volume match system currently
used by the ICAP Inflation and Options desks in London.
This information is provided by RNS
The company news service from the London Stock Exchange
MSCGCBDGSDXBGDB -0- Oct/31/2012 10:00 GMT
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