COMMISSION DECISION
of 20 December 2006
on the aid to ‘Investbx’ C 36/2005 which the United Kingdom is planning to implement
(notified under document number C(2006) 5808)
(Only the English version is authentic)
(Text with EEA relevance)
(2008/126/EC)
1. PROCEDURE
2. DETAILED DESCRIPTION OF THE MEASURE
2.1. Objective of Investbx
2.2. Legal basis of the measure
2.3. Budget and duration
2.4. Beneficiary of the measure
2.5. The current market in the United Kingdom
2.6. Activities and pricing of Investbx
2.6.1. Fund raising
2.6.2. Bundling of support services for SMEs
2.6.3. Secondary trading
2.7. Indirect beneficiaries
2.7.1. Investors
2.7.2. Investee SMEs
2.8. The selection procedure for the service provider of the measure
2.9. Comparison Investbx vs. Ofex
INVESTBX |
OFEX |
Geographical area of operation |
|
SMEs from West Midlands only |
National and International |
Dedicated West Midlands based team of 6-8 people |
1 business development manager, based in London covering all 9 UK regions |
Target market |
|
SMEs in expansion stage only |
Any size of company |
Up to GBP 2 million per annum |
No limit |
Services provided |
|
Primary objective is raising primary capital for SMEs |
Primary and secondary trading market. Broker dealers raise money |
Provision of independent research is pre-requisite for joining |
No such requirement |
Order driven trading platform, periodic auctions matching buyers and sellers at a single price |
Quote driven market; real time trading with one price at which to buy and another price at which to sell which generates the share price spread |
Regulatory landscape |
|
Investbx will be an Appointed Representative of The Share Centre which operates an Alternative Trading System |
Ofex is currently an Alternative Trading System directly authorised by FSA |