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PLUS wins Best Trading Platform award

PLUS Markets has just been awarded 2008 Best Trading Platform by World Finance, a leading financial magazine with a global distribution network.

The citation recognises the world class trading platform PLUS launched in record time for MiFID in November 2007. The new platform comprises X-Stream trading technology from OMX which provides rich functionality, flexibility and capacity to manage large transaction volumes - combined with a market surveillance solution provided by SMARTS.

Based on a number of factors, the award considered innovation and originality, competitiveness, proof of development, progression, and project management amongst others. On deciding the winner, the World Finance panel noted that, “PLUS Markets Group had been instrumental in providing a viable and alternative service to the more established LSE, while also creating a business model which is both innovative and bold”.

PLUS has been enjoying strong trading activity since the launch of the new trading platform last year with bargains and volumes soaring to new highs. In the past three months, PLUS has consistently exceeded the AIM average daily trades, with March recording an average of 19,159 trades per day against AIM at 16,554* per day. Additionally, in March (as in the previous months) the majority of trades (50% or more) in over 600 small and mid-cap companies took place on PLUS (March - comprising over 380 small and mid caps listed or quoted on other markets and some 220 PLUS-quoted companies).

Chief Technology Officer Brian Taylor said, “We’re delighted to receive this recognition. We delivered a MiFID-compliant trading solution in six months whereas other exchanges take two to three years. We looked to build a trading and surveillance system designed to offer investors better execution every time they traded on PLUS. And we did it through sheer determination, professionalism and experience of a world-class team. Since going live, the system has had 100% availability, trading volumes have rocketed, and our customers have gained significantly.”