Aquis Exchange PLC announces that on 7 August 2023 it acquired a minority stake in OptimX Markets, US-based financial services start-up focused on the block trading market.

Created by a team of experienced equity capital markets professionals led by David Barnett, OptimX’s advanced technology suite will offer investment banks, brokers and institutions the opportunity to find additional matches for order flow. Aquis will work closely with OptimX in the UK and EU combining its market-leading technology platform with the OptimX technology suite. This initiative will further expand the product suite available to Aquis members reinforcing the innovative approach Aquis brings to capital markets.

The Investment was made as part of a consortium which includes DB1 Ventures, the venture capital arm of Deutsche Boerse Group.

 The Investment is split into two tranches: Aquis will subscribe US$0.75m out of a total first tranche of US$3.0m payable in cash, followed by a second tranche in 12 months of a further US$0.75m out of a total $3.0m payable in cash. The pre-money valuation of the first tranche was US$10m and the valuation for the second tranche will be finalised at the date of investment.

 It is expected that Jonathan Clelland, COO of Aquis, will join the board of OptimX as a Non-Executive Director in due course.

 OptimX is a new venture and so has not yet generated any profits or losses.

 Aquis CEO, Alasdair Haynes said:

“The investment in OptimX is a significant opportunity for Aquis, adding additional connectivity to our successful dark pool (the Aquis Matching Pool) and providing clients with the ability to cross large blocks. This alongside Aquis’s growing functionality will further enhance the range of execution options available to our members.”

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”).

Source: Aquis

Deutsche Börse’s Corporate Venture Capital arm DB1 Ventures has led the Seed funding round in OptimX Markets, a future block trading platform.

Based in New York, OptimX is an independent, venue-neutral block trading solution in the global cash equities space. OptimX has developed an advanced technology suite that provides investment banks, brokers, and institutions with a unique platform for sharing and processing institutional block orders. To support their go-to market launch in the EU and UK, a partnership with co-investor Aquis Exchange will be established.

Eric Leupold, Managing Director Cash Market at Deutsche Börse, commented: “Buy side firms in the EU have a continued preference for executing large cash equity transactions in blocks, which has been reinforced by MiFID II. OptimX has a compelling value proposition for this off-order book market. We look forward to working closely with the team and our co-investors to build and scale the business.”

David Barnett, CEO and Founder of OptimX Markets, commented: “Our collaboration with Deutsche Börse paves the way for our advanced technology suite to make waves in the European marketplace. As one of the world’s most renowned financial market operators, Deutsche Börse’s rich heritage and a steadfast commitment to fostering burgeoning technologies provides OptimX with the critical support and guidance that will allow us to reshape the landscape of European equities liquidity and beyond.”

Source: Deutsche Börse