Gibraltar to launch first stock exchange
The Gibraltar Stock Exchange, to be known as GSX, will launch on November 1, when it will begin inviting firms to apply to become listing members.
In a statement, GSX said it has already received “keen interest” from a number of applicants.
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Hide AdThe full opening, when open-ended funds will be able to list on the exchange, will take place in the first quarter of 2015.
Companies will not float on the exchange during this first phase.
The prospective exchange said it had been marketing its services over the last 18 months in Europe, Asia and the United States and had found demand from both the funds and their investors.
The exchange will give funds greater exposure to investors in the European Union, while the listing process will require the funds to become more transparent, benefitting investors wishing to take advantage of Gibraltar’s strengths, it added.
Gibraltar is part of the EU through its ties to Britain, to which it was ceded about 300 years ago. It has a population of about 30,000 and a booming economy.