There were 331 new listings on The International Stock Exchange (TISE) during the first half of 2017.
This represents a 45% increase year on year and took the total number of listed securities on TISE to 2,411 at the end of June. During the first six months of the year, the total value of all listed securities on TISE increased by £6 billion (1.7%) to reach £399 billion at the end of June.
TISE has also won an award for the Most Innovative Capital Markets Listing in the 2017 Fintech Awards run by trade publication Wealth and Finance International. This was in recognition of the fact that when GABI plc was admitted to the Official List in December 2016 it became the first regulated bitcoin fund to be listed on any exchange globally.
Fiona Le Poidevin, CEO of The International Stock Exchange Group Limited (TISEG), said: “I’m delighted that we have won this award. I had followed GABI since its prominent launch in 2014 and so it was very exciting for TISE to be able to play a part in the next chapter of this innovative structure.”
GABI is an open ended fund which was launched in 2014 as the world’s first regulated bitcoin fund when it received certification as an Expert Fund from the Jersey Financial Services Commission. It is managed by Global Advisors (Jersey) Limited.
Mrs Le Poidevin added: “GABI’s listing was not only a ‘world first’ but it was also the first digital asset-related listing on our Exchange. It is this responsive, innovative approach which is helping attract new business to TISE.”
Listings during the first half of 2017 included financial services business PraxisIFM Group Limited. It listed in April to widen the group’s visibility internationally, provide access to the capital markets and to give shareholders a market for their holdings. It features on the Channel Islands segment of TISE’s Official List.
Other listings during the period have included convertible bonds and high yield bonds, while there have also been applications for UK Real Estate Investment Trusts (REITs) which have subsequently listed.
Mrs Le Poidevin said: “Being based across the three Crown Dependencies of Guernsey, Jersey and the Isle of Man means that we have an offering which sits outside the European Union. This allows us to provide a regulatory regime which is robust but also proportionate to the needs of our issuers and this has proved particularly important, for instance, in the case of high yield bonds.
“At the same time, Brexit has played a part in increasing investment into UK property through the REIT regime and we are seeing an increase in these listings. Indeed, while Brexit is creating huge uncertainty in the UK, we have certainty and stability which we believe puts us in an ideal position to help support the UK economy by offering a venue for companies to raise finance and grow their businesses.”
The first half of the year also included the renaming of the business – from the Channel Islands Securities Exchange (CISE) – and the opening of an office in the Isle of Man. Since then, IQE Securities Sponsor Services has become the first Isle of Man-based company to become a member of TISE. The Exchange has also received recognition from the German regulator, BaFin, which means that German mutual funds can invest into TISE-listed securities.
Mrs Le Poidevin said: “It has been an extremely busy first half of the year, not least with rebranding and also opening the office in the Isle of Man but, in addition, we have seen strong growth in the number of new listings. It is an exciting time to be part of this growing business.”