Gibraltar’s first ever regulated stock exchange has been given authorisation by the Financial Services Commission of Gibraltar (FSC) to start operations.
GSX Limited will open in two phases. The initial 'soft launch’ commencing from 1 November 2014 where firms will be invited to apply for membership as Listing Members.
The full opening for listings will be during Q1 of 2015.
Nick Cowan, managing director of GSX, said this was an “exciting moment” for the financial community in Gibraltar.
He said: “We have been working closely with the FSC and undergoing intensive scrutiny from them as we have developed to ensure that we have an attractive exchange that meets their high standards. We are grateful for their approval and look forward to welcoming our first Listing Members in the coming weeks.”
“There has been a lot of preparation over a long period to make our offering both robust and competitive. Many have helped us with advice and input of so many sorts. Thanks to them, we are set to open with confidence and support”.
Adrian Hogg, non-executive director of GSX believes that the opening of a stock exchange will provide Gibraltar with an additional pillar and product offering to its expanding financial services sector and will provide infrastructure in further establishing Gibraltar as a leading EU finance centre.
Albert Isola, minister for Financial Services, said: “I am delighted that GSX has successfully completed its regulatory process and believe the Exchange will further assist in the continued development of our financial services sector.”
“This is an important step forward for our well-regulated, transparent and internationally cooperative jurisdiction.”
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