Statement re legal settlement
May 29 2009 - 6:02AM
UK Regulatory
TIDMLSE TIDMLSEB
RNS Number : 0158T
London Stock Exchange Group PLC
29 May 2009
29 May 2009
RESOLUTION OF THE LITIGATION BETWEEN PLUS MARKETS PLC AND LONDON STOCK EXCHANGE
PLC
The London Stock Exchange ("LSE") and PLUS Markets ("PLUS") are pleased to
announce that they have successfully resolved their dispute concerning trading
in the securities of AIM companies. Under the resolution, the LSE will receive
all the information it requires for regulatory purposes, and market makers will
be able to quote and trade report in all AIM securities on PLUS's markets
without any additional trade reporting requirements to the LSE. No admissions
are made by either Party, PLUS waives its damages claims, and each side will
bear its own legal costs.
PLUS will provide real-time trading data to the LSE to support its regulatory
obligations. This reflects the important role played by the LSE in regulating
AIM companies and ensuring their compliance with the AIM rules. The resolution
will enable PLUS to offer trading services in all AIM securities.
The LSE will make changes to its rulebook such that firms will have the right to
choose whether to trade AIM securities under the rules of PLUS's markets, or
under the rules of the LSE. This approach allows PLUS and PLUS-Europe to operate
as independent execution venues.
The agreed structure (including rulebook changes) will be implemented as soon as
possible and in any event by 1 September 2009.
Having settled this matter to mutual benefit, the parties have agreed not to
comment further upon the recent dispute but rather to continue to concentrate on
their wider business interests and in promoting London as being not only amongst
the best regulated centres of international finance but also the most
competitive.
-END-
Further information is available from:
+------------------------+------------------------------+----------------------+
| London Stock Exchange | Patrick Humphris - Media | +44 (0) 20 7797 1222 |
+------------------------+------------------------------+----------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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