The Channel Islands Stock Exchange’s international outlook is underpinned by being recognised by authorities in some of the world’s leading economies, including the US and UK. Tamara Menteshvili, Chief Executive Officer of the stock exchange says: “The CISX offers a professional and personalised service with flexibility and responsibility. Its key features – which help to set it apart – include consistency of response, swift turnaround of documentation, competitive costs and the pragmatic approach adopted by the Market Authority.”
In its policy towards listing services, the Market Authority has demonstrated its willingness to list innovative structures, including limited partnership interests. The CISX has carved out niche markets in property funds, structured funds and specialist debt securities, particularly acquisition vehicles, and has become widely accepted for the listing of a range of alternative fund structures. The CISX had been a pioneer in the private equity sector, being one of the first stock exchanges in Europe to allow the listing of interests in limited partnerships and the trading of partly paid shares.
A service to suit you
Whilst concentrating on the investment funds and specialist debt market, the CISX is also ideally placed to provide a full listing and trading facility for small cap companies that have a three-year track record looking to raise capital or facilitate employee share schemes through a publicly quoted status. The CISX offers a full listing and trading facility for commercial businesses and closed-ended investment companies. Transactions have the advantage of a central settlement system. These trading facilities also extend to open-ended investment companies – a unique feature of the CISX.
International issuers are attracted by the Islands’ stable governments, tax-neutral platforms, the breadth and depth of quality financial service providers based in the jurisdictions and its time zone location near to the UK and London. It can also boast of a solid reputation for high standards of corporate governance and appropriate legislation. “Few jurisdictions can match this range of advantages,” says Ms Menteshvili. The CISX has reported significant growth in its market, and in May this year, the Market Authority was pleased to announce the admission of the Exchange’s 4,000th security to the CISX Official List.
Interest from afar
The CISX continues to build its niche markets and Ms Menteshvili notes the growing interest in the listing of the specialised alternative investment sector – with a focus on natural resources and commodities such as gold, energy and biofuels, as well as venture capital and private equity funds. Ms Menteshvili pointed towards increased demand for greater accountability and transparency within financial services as a result of the financial crisis, adding that such demands bring business opportunities.
“For example, during the past few years, we have seen greater focus by investors and issuers on the transparency benefits of a listing, through initial and ongoing disclosure requirements and this has proved an advantage to the Exchange,” she says. “We are experiencing a number of enquiries, particularly from US private equity groups, carrying out due diligence on the CISX in order to consider investment in CISX-listed securities, so we anticipate some growth in this area. The CISX is noted for being innovative and for offering a personal service. The Market Authority will continue to innovate, particularly within its core sectors of investment funds and the specialist debt market and offer an unrivalled service.”
For further information on the advantages of listing on the Channel Islands Stock Exchange, please visit: www.cisx.com, email: info@cisx.com or telephone: (+44) 01481 713831 (Guernsey) or (+44) 01534 737151 (Jersey)