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Former Barclays chief in talks to buy stake in Aquis Exchange

Former Barclays chief executive Bob Diamond is in talks to buy a stake in Aquis Exchange.

The new pan-European equities trading market is in talks with several investors including Mr Diamond, though no deal has been finalised yet, the Financial Time reports.

Aquis - which was established in 2012 by former Chi-X Europe chief executive Alasdair Haynes - is waiting for approval from UK regulators for its platform and is set to launch later in 2013.

The institution will operate using a subscription pricing model and aims to bring competition to the European market.

Other interested parties include the Warsaw Stock Exchange, which is in talks about buying a 30 per cent stake in Aquis.

Mr Diamond was ousted from Barclays last year after his involvement in the Libor scandal was revealed.

As part of the agreement with his former employer Mr Diamond has been unable to work as a competitor, but this arrangement expired in July.

By Gary Cooper