15th Apr 2015 09:20
LONDON (Alliance News) - Octagonal PLC Wednesday said that Global Investment Strategy UK Ltd, the custody and clearing company in which it has a 9.97% stake, reported higher settlement values and transactions for the first quarter of 2015.
According to Octagonal, Global Investment Strategy's settlement values exceeded USD6.3 billion in the quarter ended March 31, compared with USD4.1 billion in the corresponding period the prior year. Settled transactions at the company increased to 23,000 from 17,664.
"We continue to see very strong growth from GIS as it continues to attract new clients seeking its bespoke London-based financial platforms," Octagonal Chairman Donald Strang said in a statement.
Octagonal shares were down 3.7% at 0.265 pence on Wednesday afternoon. The stock is up by almost 18% so far in 2015.
By Samuel Agini; [email protected]; @samuelagini
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