The International Stock Exchange
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|Location||St. Peter Port, Channel Islands|
|Owner||The International Stock Exchange Group Limited|
|Key people||Jon Moulton, Chairman Stephen Lansdown, Deputy Chairman|
|No. of listings||2,200|
The International Stock Exchange (TISE) is a stock exchange headquartered in St. Peter Port, Guernsey. The TISE provides a responsive and innovative listing facility for international companies to raise capital from investors based around the globe. It offers a regulated marketplace, with globally recognisable clients and a growing product range, from a location within the European time zone but outside the EU.
Licensing [ edit ]
TISE is the trading name of The International Stock Exchange Group Limited. It wholly owns The Channel Islands Securities Exchange Authority Limited which trades as The International Stock Exchange Authority (TISEA) which is licensed to operate an investment exchange under The Protection of Investors (Bailiwick of Guernsey) Law, 1987, as amended, by the Guernsey Financial Services Commission.
Jurisdictional offices [ edit ]
PO Box 623 Helvetia Court, Block B, Third Floor, Les Echelons, St Peter Port, GY1 1AR Guernsey
Listings [ edit ]
The exchange lists a wide range of securities:
- Primary and secondary listings of securities issued by Guernsey, Jersey and overseas trading companies
- Investment vehicles, including open and closed ended funds and Real Estate Investment Trusts (REITs)
- Specialist debt securities for sophisticated investors, including the use of Special Purpose Vehicles (SPVs) and the Quoted Eurobond Exemption for convertible bonds, intra-group financing, structured products and warrants
- There are specific rules for equities and corporate debt securities issued by extractive industries
- Special Purpose Acquisition Companies (SPACs) were introduced in November 2015
As on June 2016 there were over 2,000 listings with a total market capitalisation in excess of £300 billion.
International recognition [ edit ]
Recognition of the TISE:
- On 20 December 2013, HMRC deemed the Exchange a Recognised Stock Exchange under Section 1005 of the Income Tax Act 2007.
- In December 2013, the Exchange was approved as an Affiliate Member of the International Organization of Securities Commissions IOSCO.
- In December 2013 the Exchange was officially recognised by the Australian Securities Exchange ASX.
- In March 2015, the Exchange became an Affiliate Member of the World Federation of Exchanges WFE.
History [ edit ]
It was launched on 20 December 2013 as the Channel Islands Securities Exchange (CISE) when the Royal Court of Guernsey approved an arrangement for it to acquire the business of the Channel Islands Stock Exchange.
In June 2016 the CISE listed its own shares on its own exchange. The Channel Islands Securities Exchange Authority Limited 2,461,000 ordinary shares have a limited market at present.
December 2016 saw a world-first with a listing on CISE of a global bitcoin fund.
February 2017 saw an announcement that the exchange would rebrand as "The International Stock Exchange". The rules of the exchange having been recently changed to allow listing sponsors to be based in places other than in the Channel Islands. In March 2017 the rebranding was completed and an office was opened in the Isle of Man.
See also [ edit ]
- List of stock exchanges in the United Kingdom, the British Crown Dependencies and United Kingdom Overseas Territories
References [ edit ]
- Expat Money. "Channel Islands Stock Exchange rebranded and relaunched". Telegraph. Retrieved 2014-01-29.
- "Search on for new CEO for re-launched Guernsey securities exchange". International Adviser. 2014-02-27. Retrieved 2014-03-12.
- "Carolyn Gelling to lead new stock exchange company". IOMtoday. 9 March 2017.
- "The International Stock Exchange". Jersey Finance.
- "Channel Islands Securities Exchange - CISE introduces the SPAC as a new product". www.cisx.com. Archived from the original on 2015-12-22. Retrieved 2015-12-17.
- "About the CISE". CISE.
- "International Recognition". Retrieved 12 November 2015.
- "BBC News - Channel Islands Stock Exchange relaunches under new name". Bbc.co.uk. 2013-12-27. Retrieved 2014-01-29.
- "CISE opens Jersey office". blglobal.co.uk. Retrieved 2015-12-17.
- "'Significant milestone' as CISE lists on own exchange". Guernsey Press. 24 June 2016.
- "Global bitcoin fund lists on CISE". ftse global markets. 19 December 2016.
- "New name will reflect local exchange's broader reach". Guernsey Press. 13 February 2017.
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