Statement re legal settlement

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.

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Further information is available from:

London Stock Exchange

Patrick Humphris - Media

[phone]

 

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