Excel Force signs MOU with UK firm for software and operations support

PETALING JAYA: Software firm Excel Force MSC Bhd has entered into a memorandum of understanding (MOU) with UK-incorporated Aquis Exchange Ltd for software and operations support.

Aquis operates a pan-European cash equities trading exchange and develops and licences exchange software to third parties. It is authorised and regulated by the UK Financial Conduct Authority to operate a multilateral trading facility.

Excel Force said both parties are engaged in discussions concerning intention to enter into a software delivery, support and operations agreement in the area of designing and building infrastructure and software as well as customised training to support operationalisation.

"The MOU is not intended to create legal relations between the parties and will not constitute a contractually binding arrangement between the parties," it noted.

At 2.40pm, Excel Force shares rose 2 sen to RM1.16 on some 417,700 shares done, giving it a market capitalisation of RM479.93 million.