In its results for the year to 31 December 2021, Aquis Exchange (AQX ) reported revenue up 42% as profit before tax increased in excess of five times from what we recorded in FY20.
The exchange services group saw revenue rise to £16.2m from £11.4m in FY20 while pre-tax profit grew by 540% to £3.2m from £0.5m reported in the year prior, driven primarily by the pan-European secondary market trading activities and material increases in data revenues.
“It is clear we have now transformed into a business with dependable revenues, generating significant profits, and with a very robust financial position,” CEO, Alasdair Haynes stated.
During 2021, the company was able to recommence trading in Swiss shares, increase its overall pan-European secondary trading market share and manage the transition of a significant part of the secondary exchange trading business from the UK to France.
Cash and cash equivalents at 31 December 2021 of £14m, up from £12.3m in FY20. The overall share of available liquidity of 24%, the highest of any European MTF, it detailed.
Aquis views FY21 as “an incredibly busy and fruitful year” across all divisions, as it delivered the first year of Aquis Stock Exchange under its new rulebook, harmonised data revenues, and made progress against its ‘cloud native exchange’ plans in its Technologies business.
The Group said this momentum has continued post-period end, with its dual listing on Aquis Stock Exchange, a reflection of its confidence in AQSE as a home for growth businesses.
“Most recently, in a milestone for Aquis, we announced we would be assuming the business activities of UBS’ dark pool. This development will be accretive for our business, expand our offering and provide access into a new part/segment of the market,” Haynes highlighted.
To date, Aquis has seen “an encouraging start” to current trading in line with expectations, notwithstanding continued macroeconomic uncertainty and high levels of market volatility.
Haynes said “heightened volatility and uncertainty stemming from the wider geo-political environment is set to continue”, but nonetheless, the company remains focused on the execution of its growth strategy and delivering increased value for our stakeholders.
Looking ahead, Aquis said it approaches the remainder of the year “with a positive outlook.” It said it is already delivering on its vision of a transformation of primary markets for small and mid-cap stocks through Aquis Stock Exchange where it has a pipeline of 50-60 companies looking to IPO and ‘expect the growth of the Exchange to continue at pace throughout FY22.’
As of this morning, the Company has formally completed its dual listing on the Aquis Stock Exchange ( (“AQSE”) with Haynes highlighting: “Today marks a historic day for the Group as we begin trading on our very own Growth Market. Through our hard work over the past two years, AQSE has become a serious challenger stock exchange and we look forward to seeing it become home to many more growth companies like ourselves in the years to come.”
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