Channel Islands exchange adds member

Verras Professional Services has become the latest company to join the Guernsey-based Channel Islands Securities Exchange (CISE) as a listing member.

The company is a susidiary of the MJ Hudson group, an alternative asset law firm that provides legal, marketing and fiduciary services to fund managers, institutional investors, family offices and corporates. It has offices in Jersey, Guernsey, London, Hong Kong and Switzerland.

Verras now holds a Category 1 and Category 2 membership of the CISE, which means rather than being listed itself, it can arrange and sponsor the listing of investment funds and debt securities on the exchange, the CISE said in a statement on Monday.

Verras director Jonathan Bale said he was “delighted” by the development.

“One of the attractions of the CISE to our clients is the fact that the CISE has wide international recognition, whilst being competitive on cost.”

He went on: “Verras joining the CISE enables the MJ Hudson group to enhance the services it can provide to its clients.”

CISE said the exchange now has 40 listing and trading members.

CISE chief executive Fiona Le Poidevin said: “We are pleased to welcome Verras as a new Listings Member of the CISE. We have a wide range of sponsors from a variety of disciplines and Verras is an excellent addition.

“Verras and its wider group is extremely well placed to introduce new business to the CISE and, as we have already seen with its first listing in December, particularly convertible bonds and loan notes. Convertibles have been a feature of new business in 2015 and we expect a further pipeline during 2016.”

There are now more than 2,000 securities listed on the exchange, with a total market capitalisation in excess £300 billion. As International Investment reported in January, the number of companies listed on the exchange has been falling for the past three years, though rate at which this is happening slowed in the last year.

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