March 24, 2020 / 7:48 AM / 15 days ago

Exchange operator Aquis says trading 'effectively' during market flux

LONDON (Reuters) - Exchange operator Aquis (AQX.L) said its operations were standing up to the increased volatility and trading caused by the coronavirus pandemic, but like many UK companies, was holding off releasing full-year results.

The stability of key market infrastructure such as stock exchanges has been in focus over recent weeks as governments increasingly move to tougher lock down measures in an attempt to battle the crisis, including pushing people to work from home.

Aquis said while there was significant macro-economic uncertainty, its technology systems were “dealing effectively” with higher than usual trade volumes caused by the market volatility, and it was “efficiently operating remotely”.

Aquis joins a growing list of firms to heed a request from financial market regulators to delay the release of results, to allow them to better gauge the impact of coronavirus on their businesses.

The company also reiterated December guidance for full-year revenues to be up around 70% and for earnings before interest, tax, depreciation and amortisation to be approaching breakeven.

Reporting by Simon Jessop, editing by Sinead Cruise

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