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Frankfurt backs Trintech withdrawal

The Frankfurt Stock Exchange has approved payment software group Trintech's application to delist from the market.

Trintech's shares will continue to trade in Frankfurt until  May 11.

Last month Trintech announced that it would withdraw its shares from Frankfurt, but said it would maintain its listing on New York's Nasdaq market.

The decision to de-list from Frankfurt is intended to concentrate trading in the stock on one market, and reducing the complexity of reporting requirements and the costs of maintaining a dual listing.