The Warsaw Stock Exchange says that it is in talks about buying a 30% stake in Aquis Exchange, the UK-based start-up hoping to open a pan-European equities trading market.
Aquis - established late last year by former Chi-X Europe chief executive Alasdair Haynes - is currently waiting for approval from UK regulators for its platform, which will operate a subscription pricing model.
The venture says that it wants to bring competition to a European market which has consolidated in recent years - not least through the merger of Haynes' old platform with Bats Europe.
Haynes has also attracted several Chi-X technology staffers and the new company plans to develop and licence its own exchange software.
The Warsaw Stock Exchange has now confirmed that it is in negotiations to buy up to 30% of Aquis in a deal.