Argentarius Group has signed a letter of intend to buy an equity stake of approx 3.5% in the Gibraltar Stock Exchange (GSX).
The Exchange opened in 2014 and is thus the youngest EU-regulated market within the EU. GSX opened to provide services to the asset management industry operating initially as a listing only exchange for open-ended funds. On November 26th 2015, GSX received an in principle approval from the Gibraltar regulator, the Financial Services Commission, to widen its activities and diversify its product range significantly with a licensing extension to list (asset backed) Exchange Traded Instruments, (asset backed) Exchange Traded Debts, any other kind of asset backed securities, Insurance Linked Securities and CAT bonds, derivative securities and bonds.
The Exchange is responsible for maintaining an orderly market, oversees listings and member firms, and liaises with the Listing Authority. Therefore GSX plays an integral role in establishing Gibraltar as one of the leading EU finance centres, as a well regulated, transparent, and internationally cooperative jurisdiction.
Argentarius became a member of GSX this Summer and has accompanied the exchange on several marketing events throughout the year, like the fall Singapore and Hong Kong tour, the lunch seminar in London and the Summer Asia event.
"Argentarius and GSX both share the vision to provide standalone structuring and listing solutions to the asset management industry and diversify into the fast growing market of innovative finance beyond banks. I am proud to underpin the cooperation of our companies by acquiring an equity holding" says Andreas Wölfl, founder and chairman of Argentarius Group.
Following the in principle approval to list Exchange Traded Instruments (ETIs), GSX anticipates the first ETI products to be listed early 2016. Furthermore, GSX is looking forward to its first Exchange Traded Debts issuance program to be admitted to trading within Q1 2016 too, providing alternative finance solutions targeted at European SMEs, Commercial Real Estate companies and leveraged finance transactions.
"GSX's objectives lie in complementing Gibraltar's unique position within the EU and providing solutions to its clients seeking a gateway to Europe" said Nick Cowan, Managing Director of GSX. "Listing securitised assets with an approved prospectus on GSX, an EU regulated exchange, creates a number of key benefits including promotion rights, UCITS eligibility and passporting. Not only were we excited to accept Argentarius, a securitization expert as a Member firm of GSX earlier this year, we are delighted they have also chosen to invest in our success. We look forward to an exciting 2016 and beyond."