A fresh battle is under way to land the business of West Midlands firms who want to become listed.
The stock market for smaller firms Ofex - which serves Arsenal FC at its top end - has torn up its rulebook in a bid to provide the best service for companies such as growing firms or family businesses.
And head of business development Nemone Wynn- Evans said she believed the flexibility on offer would beat the offering of rivals, such as AIM.
But a spokesman on the London Stock Exchange on behalf of AIM denied that - effectively saying Ofex did not offer the same clout.
Mrs Wynn-Evans told The Birmingham Post Ofex had introduced comprehensive rule changes to ensure it met fresh demands in the marketplace.
n A fresh stand-alone rulebook with guidance notes to assist compliance. n New shareholder approval requirement for market withdrawal - which means 75 per cent shareholder consent is necessary for cancellation. The aim is to ensure investors participate in key decisions. n Improved issuer transparency - including greater disclosure of company information on the first day of dealings.
Ofex currently serves ten companies in the West Midlands - including Sprue Aegis and the Brookvale Group.
Mrs Wynn-Evans said the company believed investors in smaller companies - the core Ofex business being firms with a likely capitalisation of up to £20 million - wanted to see as much money as possible going to generate shareholder value and not on regulatory burdens.
She said operations such as AIM were increasingly targeting a different market.
But a spokesman for AIM said: "We would not cede the area of smaller businesses, it is simply up to companies to decide which market is more appropriate for them."
He added that AIM was "much-broader based", and had a higher profile while adding that he believed Ofex would "not open up the same level of institutional investment funds".
But Mrs Wynn-Evans said Ofex was dedicated to the needs of smaller companies while other markets - such as AIM - were increasingly dominated by larger players.
She said: "We have spent a length of time getting our proposition right. We are now seeking to spread the word because the feedback we are getting supports our view that we have got it right."
She said Ofex was particularly suitable for companies needing independent valuation or trading facility and for those requiring: an employee share scheme; incentives for new executives; tax benefits of unquoted securities; paper-based acquisitions or trade sale.