Fund-Technology.com

Mourant fastest growing listings agent on CISX

Posted: 11 July 2008

Mourant is the fastest growing listing agent on the Channel Islands Stock Exchange (CISX) and has completed its 200th listing.

Commenting on the increased volume of work, Jason Bingham, Listing Manager, said: "The Listing of debt securities on the CISX, such as Eurobonds remains very popular as our clients continue to take advantage of the 'quoted Eurobond exemption' which allows UK based issuers to eliminate UK withholding tax on payments of interest to parties not resident in the UK.

"Real estate investment funds focusing on the Emerging Markets are also very popular and we have had a significant number of listing enquiries relating to these specific types of structures."

Mourant is a founding member of the CISX and acts as a Category 1 member. This allows it to act as a listing sponsor in respect of all types of securities capable of being listed on the CISX. Since August 2007, Mourant has seen its growth in listing instructions escalate 38 per cent.

Listing on the CISX offers the following key advantages:
- efficient service, competitive pricing and a fast document turnaround time
- the Market Authority at the CISX is particularly responsive and will consider all legal structures
- the CISX rules are much more straightforward and flexible than those of most other exchanges, with the CISX having more discretion to derogate from them where investors will not be prejudiced
- the disclosure and continuing obligations of the CISX are less onerous and easier to comply with than most other exchanges, in particular those subject to the EU Directives
- listings on the CISX are not subject to EU Directives and there is no obligation under the CISX listing rules to prepare accounts under IFRS.

Click here for more information on Guernsey

Back to news