Trading activity on PLUS has remained busy with a 45% increase on the number of trades made on the market last month, the exchange has stated.
There were 806,575 bargains compared to 555, 958 in September with the number of shares up by 23.72% to 3,278 million against last month. However the overall trade value dropped to just over £4.38m compared to £4.47m
The market is determined to place its own figures in contrast with that of its rival AIM, which it suggests is coping less well with the economic slowdown.
PLUS Markets Group (PMG) and the London Stock Exchange, which owns AIM, are at loggerheads with one another in a fight which is set to culminate at the High Court. The spat is over a rule that insists that the trade of LSE securities must be reported, which effects PLUS’ dual trading offering.
“We are extremely pleased with the way the UK equity market is moving order flow to PLUS,” Cyril Theret, business development director.
“It lends strong support to our claim currently lodged with the High Court for restrictions on trading all AIM stocks to be removed, as well as affirming our position as the new stock exchange for London.”
© Crimson Business Ltd. 2008