The London Stock Exchange's monopoly of UK share listings received the first challenge in its history, as Plus Markets Group today became the only other company to be granted formal recognition from the country's regulators to operate a stock market.

Plus Markets was formed two and half years ago as the revamped and renamed Ofex, the UK small companies trading platform. It will become the first fully authorised stock market to go head to head with the LSE on its home turf.