Plus Markets Group plc reports its interim results for the six months ended 30
June 2007.
Highlights
- Revenue at GBP1.68 million (2006 - GBP0.93 million), up 80% on the same period last year, with loss of GBP0.80 million (2006 - GBP0.81million);
- Completion of Placing to raise GBP25 million, reflected in significantly increased net assets, being invested to deliver the Company's broadened competitive ambitions;
- Contract secured with OMX for delivery of new trading and surveillance technology for the implementation of the Markets in Financial Instruments Directive ("MiFID") in November 2007 and to support extended trading offering in EU liquid shares; and
- Application to the Financial Services Authority ("FSA") to become a Recognised Investment Exchange ("RIE"), which was granted shortly after the period end.
Commenting on the results, Simon Brickles, Chief Executive Officer of the
Company said: "Following the Company's successful placing in January, we have been investing to build the foundations necessary to launch a wider challenge to the traditional exchange monopoly. We have strengthened our management team and concluded a significant technology contract with OMX for the delivery of a world-class trading and surveillance platform by MiFID. We also submitted our application to the Financial Services Authority for Recognised Investment Exchange status, which we were delighted to receive shortly after the period end. Important progress has been made towards our becoming a fully competitive stock exchange for London and the wider European markets".
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