PLUS Markets Group plc revealed the new regulatory framework that will underpin its substantial growth plans, as it expands its range of equity market services and extends its stock coverage into liquid shares and new products.
The framework forms a key part of the PLUS market’s offering under MiFID and follows PMG’s 25 million fundraising in December 2006.
The revised regulatory framework, which has been opened for consultation with market participants, covers all aspects of the PLUS market, including its trading services (secondary market trading) and its company services (primary market listing) rulebooks.
It also introduces rules for a new “PLUS-listed” market segment – an EU regulated market for investment trusts, REITs and other structured products.
The market’s existing regulatory powers and protections are to be strengthened in conjunction with PMG’s approval as a Recognised Investment Exchange (RIE), which PMG looks forward to receiving from the Financial Services Authority in due course.
This enhanced regulatory framework lays down foundations for the future of an expanded trading and listing service on PLUS,” said Jamie Whitehorn, general counsel and director of regulatory strategy. “It updates our rules in accordance with RIE status, while revealing the regulatory aspects of a commercially compelling MiFID service offering for PLUS’s existing and potential users.”