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Nxchange

Nxchange (stylized as nx’change) is a Dutch stock exchange, that is headquartered along the Herengracht in Amsterdam. Founded in 2015, it is one of three stock exchanges operating in the Netherlands.[4]

Key Information

Trading

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According to CEO Marleen Evertsz, Nxchange is aimed at companies with a large following that wish to raise funds.[4] They can list stocks, stock certificates, bonds, and funds on the exchange without a minimum issue amount.[4][5] Investors are able to buy and sell stocks 24/7 without a broker and can upload reports with financial analyses on the Nxchange platform.[4][5]

Transactions are settled through delivery versus payment. Clearing and settling is done by Nxchange itself, and the securities are held at the giro depot of Euroclear Nederland.[5]

History

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Nxchange B.V. was founded by Marleen Evertsz in February 2015, and the stock exchange opened for trading on April 14, 2016.[6][7] Charging infrastructure provider Fastned was the first company listed and managed to raise €3 million during the first month by issuing stock certificates.[8] The stock exchange did not succeed in attracting more companies in its first year.[9] Nxchange received a Golden Bull in 2016 in the category "best investment innovation".[10]

The company was granted a license to operate as a multilateral trading facility in August 2018 by the Authority for the Financial Markets. It was previously classified solely as a regulated market.[11][12] In December, Nxchange and Rabobank announced a cooperation called "Rabo&Crowd", allowing companies to raise money partly by borrowing from the bank and partly by issuing bonds on Nxchange.[13][14] Several smaller companies have issued bonds using Rabo&Crowd in the subsequent years.[15]

In June 2019, Fastned started a listing on the larger stock exchange Euronext, but its certificates remained tradable on Nxchange. However, it was possible to convert the stock certificates.[16] Later that year, a number of startups selected by Startupbootcamp jointly issued share certificates on Nxchange under the name "SBC Fintech Amsterdam 1921".[17]

See also

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References

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  1. ^ "Nxchange BV". Drimble (in Dutch). Retrieved July 4, 2020.
  2. ^ "Nxchange B.V." Netherlands Authority for the Financial Markets. Retrieved April 1, 2020.
  3. ^ "Secondary market debt". Nxchange. Retrieved April 4, 2021.
  4. ^ a b c d Kuppeveld, Joost van; Dobber, Joost (April 14, 2016). "Nieuwe beurs Nxchange zet tussenpersoon buitenspel". Het Financieele Dagblad (in Dutch). Retrieved April 1, 2020.
  5. ^ a b c "Investors FAQ". Nxchange. Retrieved April 1, 2020.
  6. ^ Clercq, Paul le (April 14, 2016). "Nx'change, slaagt deze nieuwe beurs wel?". RTL Nieuws (in Dutch). Retrieved April 1, 2020.
  7. ^ "Nxchange BV". Drimble (in Dutch). Retrieved April 3, 2020.
  8. ^ Grol, Carel (May 23, 2016). "Fastned haalt € 3 mln op met emissie alternatieve beurs". Het Financieele Dagblad (in Dutch). Retrieved April 1, 2020.
  9. ^ Rein, Erik van (August 27, 2017). "Veel ambitie, weinig verstoring op de beurs". Het Financieele Dagblad (in Dutch). Retrieved April 1, 2020.
  10. ^ "Juryrapport" (PDF) (in Dutch). September 21, 2016. p. 5. Retrieved April 1, 2020.
  11. ^ "Register trading platforms". Netherlands Authority for the Financial Markets. Retrieved April 1, 2020.
  12. ^ Betlem, Rutger (August 31, 2018). "AFM verleent vergunning aan nieuwe mkb-beurs". Het Financieele Dagblad (in Dutch). Retrieved April 1, 2020.
  13. ^ Rein, Erik van (December 3, 2018). "Rabobank en Nxchange stappen samen in mkb-financiering". Het Financieele Dagblad (in Dutch). Retrieved April 1, 2020.
  14. ^ Clercq, Paul le (July 10, 2019). "Wat is de toekomst van Nxchange, beurs met slechts 4 noteringen?". RTL Z (in Dutch). Retrieved April 1, 2020.
  15. ^ "Fastned-aandelen blijven ook op alternatieve beurs Nxchange". Het Financieele Dagblad (in Dutch). May 22, 2019. Retrieved April 1, 2020.
  16. ^ Dobber, Joost (June 24, 2019). "Fastned kost op de ene beurs €41, en op de andere €19". Het Financieele Dagblad (in Dutch). Retrieved April 1, 2020.
  17. ^ Hueck, Hella (October 21, 2019). "Mandje van start-ups naar de beurs". Het Financieele Dagblad (in Dutch). Retrieved April 1, 2020.
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