CISX Looks To Expand In Jersey

by Nick Mann, Guernsey Press And Star

12 April 2004

This story is reproduced by kind permission of the Guernsey Press and Star at http://www.thisisguernsey.com

The Channel Island Stock Exchange traded four times as many Guernsey-domiciled securities as those from Jersey last year.

The Guernsey based exchange was set up five years ago and is now looking to expand in Jersey.

‘We are qualified in every sense of the word; we do everything a normal stock exchange does,’ said CISX chief executive Tamara Menteshvili. ‘And we are a regulator in our own right, albeit on a smaller scale.’

More than 400 securities have been approved by the market authority, including 75 last year when trading was affected by a difficult market. In December the CISX gained approval by the UK Financial Services Authority as a Designated Investment Exchange.

The chief executive said it had not been viable to have an exchange in both islands. It may expand in Jersey in the form of an investment centre.

‘We treat our members’ clients as our own,’ she said. ‘We are very responsive to members’ requirements and we like to get things done, we don’t like losing opportunities.’

The exchange is promoting several product areas, including eurobonds and structured funds.

The CISX was formed in 1998.

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