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GXG MARKETS OFFERS HOME TO PLUS LISTED COMPANIES
GXG Markets, the three-tiered stock exchange focused on SMEs, is offering a home to companies listed on Plus-SX as the English exchange winds down its business.
It will offer firms a fast track admission process to its MTF (Multi-trade Facility) as Plus is a European recognised market. Plus announced this morning that it is to wind down its business in consultation with the FSA over the next six months.
The GXG Market quote will ensure that PLUS quoted companies will experience minimal disruption to their operations, whilst their shareholders will continue to be able to have the ability to trade their shares.
The GXG Markets MTF is a European Multilateral Trading Facility that provides an equivalent market status as PLUS SX and provides UK brokers the ability to clear and settle trades through CREST.
GXG has 23 British companies listed on either its OTC or MTF facilities with another six applications being processed.
Simon Kiero-Watson, Managing Director of GXG, said: "GXG Markets are pleased to offer a cost effective solution to ensure that companies traded on PLUS SX obtain a suitable alternative arrangements for the trading of their shares".
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About GXG Markets:
GXG Markets is an exchange operator focusing on European small and medium sized enterprises. GXG Markets operates a European regulated market and Multilateral Trading Facility (MTF) in accordance with the MiFID legislation, under the supervision of the Danish FSA (Finanstilsynet).
The GXG marketplaces are run electronically, using parent company GXG Global Exchange Group's proprietary trading system GXG Tellus. GXG Markets, founded in 1998, was established in London last year.
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