Off Exchange (OFEX)

The Off Exchange (OFEX), now owned and operated by PLUSmarkets, was started in 1995 as a way for shareholders to deal in the shares of small companies that do not meet the stringent requirements of Aim and the LSE’s official list.

Companies on OFEX are usually smaller than those on Aim, and are typically seeking to raise under £500,000 when they list. A panel determines entry to the market. The low level of regulatory requirement means that OFEX investments should be considered more risky than those listed on Aim.

Trading happens on a matched bargain basis, so you can only sell your shares if OFEX finds a buyer for them. This means that, although bargain hunters and penny-share buyers are attracted to the idea of getting into promising companies early on in their lifecycle via the OFEX exchange, illiquidity can often be a problem for the shares.

• See Tim Bennett’s video tutorial: What is a stock exchange?

MoneyWeek magazine

Latest issue:

Magazine cover
The dollar's going up

Why your British stocks will follow

The UK's best-selling financial magazine. Take a FREE trial today.
Claim 4 FREE Issues

Hedge fund manager Hugh Hendry: 'It felt like the sun rose only to humiliate me'

In a series of three short videos, Merryn Somerset-Webb talks to Hugh Hendry, manager of the Eclectica hedge fund, about everything from China to the US, Europe, and Japan.


Which investment platform?

When it comes to buying shares and funds, there are several investment platforms and brokers to choose from. They all offer various fee structures to suit individual investing habits.
Find out which one is best for you.


17 December 1900: The Guzman Prize is announced

On this day in 1900, Clara Guzman stumped up 100,000 francs prize money for the first person to communicate with and receive a response from another planet.