The Financial Services Commission of Gibraltar has authorised GSX Limited to open the jurisdiction’s first regulated stock exchange.
The GSX will initiate a soft launch on 1 November, when it invites firms to apply for membership as Listing Members. The exchange will be fully open for listings in the first quarter of 2015.
Nick Cowan, managing director of GSX (pictured middle, with Philip Young, finance director, left, and Marcus Wohlrab, marketing director, right) 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.”
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.”