Ofex, together with AIM, provide a way for newer, growing companies to enjoy the benefits of a public listing and as a means to trade shares in their firms. Although regulated by the London Stock Exchange, it has less demanding rules that those in the Official List.
Ofex is run by a single broker, JP Jenkins, and is generally for smaller companies than AIM and has even less stringent requirements.
Companies on Ofex need only publish their accounts twice a year.
Ofex was created in October 1995 as a trading facility for unquoted and unlisted securities. In 2002, Ofex became a prescribed market under Section 118 of the Financial Services & Markets Act 2000, authorised and regulated by the Financial Services Authority, and Ofex plc took over the operation of the market. The Market Abuse regime that came into effect with the implementation of the new Act in December 2001 covers all securities traded on the Ofex market. Ofex Holdings plc changed its name to PLUS Markets Group plc in 2004 following a process of refinancing and restructuring.
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