The Gibraltar Stock Exchange (GSX) has been acknowledged by the board of the UK’s HM Revenue & Customs (HMRC) as a ‘recognised stock exchange’.
The new designation extends to the entire Gibraltar Stock Exchange and will allow GSX to expand its services and offering to issuers relating to asset-backed securities and derivative securities.
The decision follows recognition of GSX by European Securities and Exchange Commission in March 2015.
HMCR's recognition formally comes under section 1005 (1) (a) Income Tax Act 2007.
Nick Cowan, managing director of GSX said: “GSX’s growth, as an EU regulated market, has been built on providing a robust prospectus approval and listing process that is so fast to market, commercially attractive and well-regulated for issuers of debt securities, including corporate bonds, asset-backed securities, insurance linked securities, convertible bonds, and derivative securities, along with issuers of shares in funds.”
“Our clients have asked GSX to seek this to have an alternative to the current listing venues for the listing of debt securities and funds and we look forward to further growing the business of the Exchange.”
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