The Gibraltar Stock Exchange (GSX) has started to list closed-end funds, bonds and other debt securities as it seeks to build out its financial services business within the EU.
GSX opened in 2014, and has since worked closely with government initiative Gibraltar Finance in raising the profile of the jurisdiction globally, particularly in the area of funds and insurance.
Gibraltar is a British Overseas Territory, but in recent years its government has committed sizeable resources to marketing Gibraltar as an onshore fully compliant EU jurisdiction. Gibraltar’s status means its financial sector is afforded full promotion and passporting rights throughout the EU.
“We have seen strong demand for debt-related financing solutions in a number of sectors including asset managers looking for an alternative path to Europe using fund-backed debt securities,” said Nick Cowan, GSX managing director.
Asset-backed securities are also listed.
“With the securitisation market in the EU at around €1.8 trillion as of [second quarter] 2015 and growing, the asset-backed securities market will be a particular area of focus for us in 2016.”
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