GSX, the Gibraltar Stock Exchange has expanded its services to include the listing of Debt Securities and Closed-ended Funds, having received approval from its regulator, the Gibraltar Financial Services Commission.
The expansion is a key element of GSX’s strategy in complementing Gibraltar’s unique position within the EU and providing financing solutions to its clients seeking a gateway to Europe, particularly through the securitisation area.
“We have seen strong demand for debt-related financing solutions in a number of sectors including SME’s using the mini-bond market to raise capital in the EU Capital Markets and diversify funding sources; (re)insurance companies structuring catastrophe bonds, collateralised reinsurance vehicles and other insurance linked securities within the EU; and Asset Managers looking for an alternative path to Europe using fund-backed debt securities,” says Nick Cowan, Managing Director of GSX. “With the securitisation market in the EU at around EUR1.8 trillion as of Q2/2015, and growing, the asset-backed securities market will be a particular area of focus for us in 2016. Listing securitised assets on GSX, an EU regulated market with an approved prospectus can offer a fast track, cost-effective route to the capital markets, providing full promotion and passporting rights throughout the EU.”
GSX, which opened in 2014 has worked closely with Gibraltar Finance and its Member Firms in raising the profile of the jurisdiction globally, particularly in the area of funds and insurance. “The Government has committed significant resources to market Gibraltar as an onshore fully compliant EU jurisdiction and we have benefited significantly from a coordinated marketing effort which has seen us in Asia, the US, Europe, Switzerland and the UK during 2015,” says Philip Young, Marketing Director of GSX. “We understand that speed is important for issuers bringing a debt security to market. GSX guarantees turnaround times on its review of all applications enabling companies to plan their listings with certainty. Furthermore, the fees charged by GSX for listing, the FSC for prospectus approval and our Member Firms in general are highly competitive. This makes the overall listing process very cost effective.“
