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MHG Merchant Hse

0.0425
0.00 (0.00%)
27 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Merchant Hse LSE:MHG London Ordinary Share GB0000577386 ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.0425 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Launch of PYXmarkets

28/05/2012 2:36pm

RNS Non-Regulatory


TIDMMHG

Merchant House Group PLC

28 May 2012

28 May 2012

Merchant House Group Plc

Launch of PYXmarkets

Merchant House Group plc ("MHG"), the AIM-quoted financial services group, announces the launch of PYXmarkets by PYX Markets Limited ("PYX"), a newly established company which will provide a digital options trading platform allowing individuals to trade in and out of the world's most liquid assets with defined return and fixed risk exposure.

PYXmarkets' fixed risk/defined return system allows users to see the maximum downside and the maximum return available of any investment before they enter a trade, and, although losses cannot exceed the initial premium placed, returns similar to those seen in a spread betting environment can still be achieved.

Once a trade has been executed investors have, before maturity, the flexibility of taking profit or limiting loss. All options left to mature close automatically with maximum quoted gain or at zero.

The platform will initially accommodate day traders. However, it is intended that PYXmarkets will offer the ability to trade hourly, daily, weekly and monthly digital options in the near future.

PYX is an Appointed Representative of MHG's wholly-owned subsidiary Merchant Capital Limited, which is authorised and regulated by the Financial Services Authority, and PYX is 47% owned by Merchant Trading LLP, an MHG group company.

PYX has entered in to an agreement with PayWizard to process all payments through this trading platform. PayWizard is an award-winning multi-screen payment platform already integrated onto many different devices. PayWizard also provides real-time information directly back to the merchant as a live money management tool. PayWizard is FSA-registered and all e-wallet funds managed through the platform are held at RBS in accounts segregated from PYX's operating accounts

Richard Hutchison, CEO of PYX, said:

"The ability to limit risk exposure is becoming increasingly important and we feel that industry sentiment is moving towards greater transparency in regards to potential loss and gain with individual positions. We believe our fixed risk/defined return approach provides complete integrity in this regard.

Christopher Day, CEO of Merchant House Group plc, added:

"PYX is a natural extension of the trading infrastructure business within the Merchant group and the group takes no position risk. Unlike many trading platforms offered to investors, users cannot take on board a loss greater than their original investment and have a fully transparent view of costs and returns whilst safe in the knowledge that they can close a position before maturity to take profit or limit a loss".

- Ends -

For further information:

Richard Hutchison 0207 332 2015

PYX Markets 0207 332 2253

Paul Quade 0207 248 8010

   CityRoad Communications                                                              07947 186694 

Note to Editors: The term "Pyx" refers to the boxwood chest in which new coins are placed for presentation to a jury independent of the Royal Mint to ascertain that the gold, silver and cupro-nickel coins made by the Mint are of the proper weight, diameter and composition demanded by law. This practice began in 1282 and continues to this day.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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