The International Stock Exchange
The International Stock Exchange (TISE) is a stock exchange headquartered in St. Peter Port, Guernsey.[1] The TISE provides a listing facility for international companies to raise capital from investors worldwide. It offers a regulated marketplace, with globally recognisable clients and a growing product range, from a location within the European time zone but outside the EU.
TISE | |
Type | Stock exchange |
---|---|
Location | St. Peter Port, Guernsey |
Founded | December 2013 |
Owner | The International Stock Exchange Group Limited |
Key people | Charlie Geffen, Non-Executive Chair; Cees Vermaas, CEO |
Currency | GBP |
No. of listings | 4,000 |
Website | TISE |
Licensing
TISE is the trading name of The International Stock Exchange Group Limited. It wholly owns The Channel Islands Securities Exchange Authority Limited, trading as The International Stock Exchange Authority (TISEA), which is licensed to operate an investment exchange under The Protection of Investors (Bailiwick of Guernsey) Law, 1987, as amended, by the Guernsey Financial Services Commission.[2]
Jurisdictional offices
|
|
Listings
The exchange lists a wide range of securities:
- Primary and secondary listings of securities issued by Guernsey, Jersey and overseas trading companies
- Investment vehicles, including open and closed ended funds and Real Estate Investment Trusts (REITs)
- Specialist debt securities for sophisticated investors, including the use of Special Purpose Vehicles (SPVs) and the Quoted Eurobond Exemption for convertible bonds, intra-group financing, structured products and warrants
- There are specific rules for equities and corporate debt securities issued by extractive industries
- Special Purpose Acquisition Companies (SPACs) were introduced in November 2015[5]
International recognition
Recognition of the TISE:[6]
- HMRC deem the Exchange a Recognised Stock Exchange under Section 1005 of the Income Tax Act 2007.
- The Exchange is approved as an Affiliate Member of the International Organization of Securities Commissions IOSCO.
- The Exchange is officially recognised by the Australian Securities Exchange ASX.
- The Exchange is an Affiliate Member of the World Federation of Exchanges WFE.
- The U.S. Securities and Exchange Commission recognise the TISE as a Designated Offshore Securities Market.[7]
- The German Federal Financial Supervisory Authority recognise TISE as an Approved Stock Exchange.[7]
History
It was launched on 20 December 2013 as the Channel Islands Securities Exchange (CISE) when the Royal Court of Guernsey approved an arrangement for it to acquire the business of the Channel Islands Stock Exchange.[8]
An office was opened in Jersey in February 2015.[9]
In June 2016 the CISE listed its own shares on its own exchange. The Channel Islands Securities Exchange Authority Limited 2,461,000 ordinary shares have a limited market at present.[10]
December 2016 saw a world-first with a listing on CISE of a global bitcoin fund.[11]
February 2017 saw an announcement that the exchange would rebrand as "The International Stock Exchange". The rules of the exchange having been recently changed to allow listing sponsors to be based in places other than in the Channel Islands.[12] In March 2017 the rebranding was completed and an office was opened in the Isle of Man.[3]
References
- Expat Money. "Channel Islands Stock Exchange rebranded and relaunched". Telegraph. Retrieved 29 January 2014.
- "Search on for new CEO for re-launched Guernsey securities exchange". International Adviser. 27 February 2014. Retrieved 12 March 2014.
- "Carolyn Gelling to lead new stock exchange company". IOMtoday. 9 March 2017. Archived from the original on 12 March 2017. Retrieved 10 March 2017.
- "The International Stock Exchange". Jersey Finance.
- "Channel Islands Securities Exchange - CISE introduces the SPAC as a new product". www.cisx.com. Archived from the original on 22 December 2015. Retrieved 17 December 2015.
- "International Recognition". Retrieved 12 November 2015.
- "Recognitions & Memberships". Retrieved 18 August 2022.
- "BBC News - Channel Islands Stock Exchange relaunches under new name". Bbc.co.uk. 27 December 2013. Retrieved 29 January 2014.
- "CISE opens Jersey office". blglobal.co.uk. Retrieved 17 December 2015.
- "'Significant milestone' as CISE lists on own exchange". Guernsey Press. 24 June 2016.
- "Global bitcoin fund lists on CISE". ftse global markets. 19 December 2016.
- "New name will reflect local exchange's broader reach". Guernsey Press. 13 February 2017.