The Channel Islands Stock Exchange (CISX), which is based in
Guernsey, has listed over 4,000 securities with a total market
capitalisation of over US$ 50 billion. The CISX offers a highly
personalised approach and fast track processing of listing
applications within a well regulated and innovative
Benefits of a CISX Listing
Competitive pricing, with no VAT or stamp duty charged in
Guernsey and Jersey.
A responsive and approachable Market Authority that meets daily
to consider applications for listings.
International standards of issuer regulation.
Funds established in jurisdictions outside the Channel Islands
may apply for listing, without the consent of the Guernsey or
The listing rules do not contain any investment restrictions,
other than requiring a spread of risk.
The CISX is flexible with accounting standards (e.g. US GAAP is
EU Prospectus Directive does not apply in Guernsey or
The listing rules do not differentiate between local and non
Guernsey or Jersey funds, e.g. in relation to accounting procedures
for netting off losses.
Designated as a "recognised stock exchange" by HM
Revenue & Customs under the UK Income and Corporation Taxes Act
1988. Therefore UK investments such as ISAs, PEPs and SIPPs can
invest in CISX-listed funds. Recognition also makes it suitable for
the listing of UK REITs.
Designated by the FSA as a "designated investment
exchange" under the UK Financial Services and Markets Act
2000. This facilitates trading by UK authorised firms as under
certain FSA rules they may treat transactions effected on a
designated investment exchange in the same way as transactions on a
recognised investment exchange.
Designated by the US Securities and Exchange Commission as a
"designated offshore securities market" for the purposes
of Regulation S of the Securities Act of 1933.
Officially recognised by the Australian Stock Exchange.
Approved as an Affiliate Member of the International
Organisation of Securities Commissions.
Associate Member of the International Capital Market Services
Registered with the World Federation of Exchanges as a
Member of the European Securitisation Forum.
An issuer wishing to have its securities listed on the CISX will
need the services of a Listing Member to act as sponsor. Collas
Crill Corporate Finance Limited is a Category 1 Listing Member of
the CISX and can sponsor all types of securities.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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