01/10/2013 07:23 BST | Updated 01/10/2013 12:15 BST

Aquis Exchange Set For November Launch 'Backed By Bob Diamond'

Bob Diamond, ex Barclays Bank chairman

Aquis Exchange, a new European equity trading platform backed by former Barclays CEO Bob Diamond, will reportedly launch in London on November 14.

The London-based exchange has won the backing of private investors including the former Barclays chief executive, according to reports by the Financial Times.

The timing is dependent on final approval from UK authorities.

The exchange's launch would mark Diamond's return to the City of London, after being forced to resign in 2012 as Barclays chief after the bank was embroiled in allegations of fixing the Libor interbank lending rate.

Aquis, based on Cheapside in the City, will operate on a monthly subscription model rather than charging fees for individual trades. It was founded last year by Alasdair Haynes, former chief-executive of Chi-X Europe.

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