LONDON (Alliance News) - Aquis Exchange PLC on Wednesday said its revenue doubled in 2018, thanks to the rising number of members on its trading platform.
The exchange services provider reported a pretax loss of GBP3.7 million for 2018 versus a GBP3.3 million loss a year earlier, despite revenue doubling to GBP4.0 million from GBP2.0 million.
Aquis highlighted its performance in the year was mainly boosted by an increase in exchange revenue as members' subscriptions have risen as a result of increased trading levels.
The company said the number of trading members on Aquis Exchange grew to 27 during the period from 24 a year prior.
"The exchange has grown both its number of trading members and the average value of monthly subscriptions and, alongside this, interest in Aquis' world-class exchange trading and surveillance technology continues to increase," said Chief Executive Alasdair Haynes.
"Despite the near term challenges presented by Brexit, we are confident we are well positioned for the period ahead," continued Haynes.
"The board is confident there remains enormous potential for our exchange model to disrupt further incumbent trading models and win more market share across Europe."
Aquis shares were untraded on Wednesday, last closing at 572.50 pence each.
Aquis Exchange (AQX)