Introduction
“The Gibraltar Stock Exchange opened its The Gibraltar Stock Exchange (‘GSX’), is a Gibraltar-based private doors on November company, licensed by the Financial Services Commission, that 2014” commenced its operations on 10 November 2014 as a technical listing exchange for open-ended funds. In due course, GSX will extend its listing services to other asset classes such as closed-ended funds in 2015, and bonds, Insurance Linked Securities (‘ILS’) and structured products in 2016. For Managers, the benefits of listing their fund include, but are not limited to, increased visibility, added credibility and increased transparency in a modern stock exchange (see ‘Benefits of Listing’). GSX provides a robust listing process that shall be fast to market and commercially attractive compared to its European peers. This may be a particularly important consideration for small and medium sized funds (See ‘How to List’).
About Gibraltar
“We have welcomed the launch of the Exchange and are delighted by its progress, as indeed by the interest it has created both locally and internationally” Albert Isola Gibraltar Minister for Financial Services and Gaming (2014)
GSX
Gibraltar is a member of the EU (via the UK’s membership) but is outside the Eurozone. As a British territory it uses an English common law system and the British Pound Sterling. Gibraltar operates within internationally recognised and EU standard anti-money laundering and OECD conventions. Gibraltar is a British Overseas Territory, self-financing, parliamentary democracy within the EU. Gibraltar is economically prosperous with a highly diversified economy and a highly developed financial services sector. Given its status within the EU, Gibraltar-licensed banks, investment services firms, UCITS, insurance companies, reinsurance companies, and insurance mediation firms benefit from access to the single European market and therefore a potential client base of over 500 million people. Gibraltar is today a realistic alternative as an onshore, cost-efficient, and fast-to-market jurisdiction.
1