AFM grants NPEX a new trading licence. After trading on the SME exchange based in the Hague was suspended in November 2017 because its license no longer met MIFID II rules, the exchange is now up and running once more. Under the new regulations, NPEX has been granted MTF status as a recognized alternative exchange platform. In addition to the launch of a new and improved trading system, the restart has also ushered in a change in the ownership structure. Along with a new majority shareholder, the government has become a co-owner, having transmuted a loan into stock.