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Aquis Exchange expects regulatory nod for NEX Exchange acquisition in early 2020

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Aquis Exchange expects regulatory nod for NEX Exchange acquisition in early 2020

Aquis Exchange PLC expects to secure the U.K. Financial Conduct Authority's approval for its acquisition of NEX Exchange Ltd. in early 2020.

The acquisition, announced July 5, was initially expected to be completed in the fall.

The company said it will release an update upon receiving the FCA's approval and completing the deal.

Aquis Exchange also said it anticipates revenues for the year ending Dec. 31 to increase by roughly 70% compared to the previous year, despite a challenging market environment. The company expects strong revenue growth in its core business to continue in 2020, albeit at a slower rate than 2019, with growth further supplemented by the acquisition of the NEX Group Holdings Ltd. unit.

The company is set to announce its full-year 2019 audited results in March 2020.

CME Group Inc. is the ultimate parent of NEX Exchange and NEX Group.