Plus Markets Group plc ("Plus Markets") today confirms that three new major liquidity providers have been admitted to membership of its market and have successfully connected to the Plus trading platform.
The three firms are: BNP Paribas, Cazenove and Merrill Lynch.
All three have connected with a view to making a market in the "Nuclear Power Notes" that are expected to be issued to those eligible shareholders in British Energy who have validly elected to receive them, in connection with the proposed acquisition of British Energy by EDF. Barclays Bank PLC is acting as issuer of the Nuclear Power Notes, which are expected to be admitted to the PLUS-quoted market week commencing 19 January 2009, further to the takeover offer being declared unconditional in all respects.
Each of the new liquidity providers may also choose to use their connection to the PLUS platform in order to participate in the rapid development of the PLUS market offering, depending on their execution requirements. Current developments include: the launch of the new "PLUS-Europe" market to trade all AIM securities, the "PLUS-pool" dark order book offering for small & mid-cap securities, and the "PLUS-HQ" hittable quote offering for liquid securities.
Rob Tarr, Director of Market Structure at Merrill Lynch International, said: "We are delighted to be connected to PLUS in order to act as a Market Maker to the Nuclear Power Notes. Accessing a new market also provides us with an opportunity to look at other areas where we can execute business efficiently, particularly at a time when PLUS is expanding its market model."
A prospectus for the "Nuclear Power Notes" is available at the registered office of Barclays Bank PLC being 1 Churchill Place, London E14 5HP.