Plus disposes of derivatives arm

Plus disposes of derivatives arm

Plus Markets has agreed to sell its derivatives exchange to Pipeline Capital, a new company set up by former staffer Clive Connors.

An FSA-regulated exchange, the loss-making Plus-DX is being sold off for a nominal sum of £10,000.

Connors, a former director of Plus-DX, left the business in December last year shortly before the small cap market operator put itself in the shop window. The company has since endured a tumultuous 2012, culminating in a stripped-down fire sale of its assets that saw the disposal of its exchange business to Icap and the sell off of its technology arm to its former IT team.

The disposal of Plus-DX complets the clean-up operation, leaving the business as an investment shell under AIM rules.

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