Shares in pan-European trading platform Aquis Exchange soared 18 per cent yesterday after it further increased its market share for equities trading.
The “Spotify of stock exchanges” increased its market share of European equities trading to 3.67 per cent.
The platform launched in 2012 as a competitor to exchanges such as the London Stock Exchange and Cboe Europe and has become popular for its subscription-based model.
Traders are charged based on message traffic and aggressive traders are banned from using the exchange.
Aquis has more than doubled its market share since April this year as its monthly data revealed a 3.67 per cent slice of the market.
In its half yearly results revenue climbed to £1.5m in the six months to 30 June from £1m the previous year and underlying earnings were also up to £1.8m from £1.5m.
The company also licenses and sells trading technology, such as crypto and security token exchange technology to third parties, through its Aquis Technologies brand.
The technology arm increased revenue by 112 per cent to £300,000 for the six months to 30 June and it has since signed an agreement with crypto exchange Archax.