Despite a year of difficult trading conditions, the Channel Islands Stock Exchange has reported further growth in the number of businesses listed on the exchange during 2009.
The Exchange experienced trading volumes in excess of 83 million trades alongside the admission of 443 securities to the Official List. Five new nembers also joined the Exchange during the year. Business continued to be strong in niche markets, in particular in alternative investment funds and specialist debt and there was continuing interest in listing structured funds.
The Exchange has recently approved its 3,500th security listing, just over a year after admitting its 3,000th listing to the Official List. The Market Authority admitted a new Cell of Guaranteed Investment Products, 1 PCC Ltd, on January 20, 2010, which is a structured fund organized and administered by Anson Fund Managers Limited with Abbey National Treasury Services plc acting as its investment manager. This CISX listing is sponsored by Ozannes Securities Limited.
Ozannes partner, Gavin Farrell, commented of the listing: “We are delighted to have contributed to the development of this successful fund and be associated with the CISX as it continues to demonstrate a very powerful offering to the international market.”
Tamara Menteshvili, Chief Executive of the CISX, added:
“2009 was an exciting year for the Exchange, winning two Guernsey Enterprise Awards and also hosting the inaugural International Business Summit where the breadth and quality of the speakers and delegates underscored the global reach of the Exchange.”
“To meet another milestone and list 500 securities in just over a year is a tremendous achievement, particularly during the challenging economic environment. The benefits of listing on the CISX continue to contribute to the Exchange’s growth, as companies recognise the high standards of service, choice and value for money we are able to offer.”
A comprehensive report in our Intelligence Report series giving a country-by-country analysis of offshore investment funds, stock exchanges and trusts, with an analysis of the US QI regime, is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp
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