Cambridge hand in alternative stock market and tech operation success

While London Stock Exchange continues to spell bad news for a whole clutch of Cambridge companies, a former technology ace from the Cluster is helping to guide the success of Aquis Exchange PLC – a creator and facilitator of next-generation financial markets.

The chair is Glenn Collinson who was a director of Cambridge Silicon Radio – sold to US behemoth Qualcomm for $2.5 billion in 2014.

Collinson said: “Despite the overall relatively downbeat year in the UK equity markets, Aquis remains a bright spot. We are growing our share of trading again and 16 IPOs last year was ahead of AIM for the second year in a row. The Aquis Technologies business is going really well with design wins now including a central bank.”

Hot off the Press this morning comes a trading update for the year to December 31 containing no nasty surprises. Aquis expects to report performance in line with board expectations. Net revenue was up 12 per cent to £22.6 million, profit before tax rose 16 per cent to £5.2m and Aquis had cash and equivalents of £14.8m – compared to £14.2m last time.

Expected net revenue by division showed that Markets was seven per cent higher at £11m, technologies up 19 per cent to £6.2m, data 23 per cent ahead to £3.7m and the Aquis Stock Exchange up 12 per cent to £1.7m.

CEO Alasdair Haynes said: “In a year marked by uncertainty and difficult market conditions, I am really pleased to report another year of double-digit revenue growth for Aquis Exchange, alongside many successful strategic developments for the group for which we expect to see the benefits in both near and long term. We are well positioned for the future and look forward to delivering throughout 2024 and beyond.”

Glenn Collinson was marketing director and one of three musketeers at CSR, working alongside co-directors Phil O’Donovan – the CEO – and CTO James Collier, dubbed a “five-star wizard” by Cambridge tech entrepreneur and investor Dr Hermann Hauser. 

The trio helped spin the business out of the prolific tech hothouse of Cambridge Consultants in 1999 – just a year after foundation – and it was first listed on LSE in 2004.