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The Gibraltar Stock Exchange, to be known as GSX,
will launch on Nov. 1, when it will begin inviting firms to
apply to become listing members.
In a statement, GSX said it has already received "keen interest"
from a number of applicants.
The full opening, when open-ended funds will be able to list on
the exchange, will take place in the first quarter of 2015.
Companies will not float on the exchange during this first
phase.
The prospective exchange said it had been marketing its services
over the last 18 months in Europe, Asia and the United States
and had found demand from both the funds and their investors.
The exchange will give funds greater exposure to investors in
the European Union, while the listing process will require the
funds to become more transparent, benefiting investors wishing
to take advantage of Gibraltar's strengths, it added.
Gibraltar is part of the EU through its ties to Britain, to
which it was ceded about 300 years ago. It has a population of
about 30,000 and a booming economy largely based on online
gambling, insurance firms and tourism.
It regularly clashes with Spain, which wants to reclaim the
territory from Britain.
Its new bourse will be led by Marcus Killick, a former head of
the Gibraltar Financial Services Commission and barrister. He
has also worked for the Isle of Man Financial Supervision
Commission and ran the banking and investments department at the
Cayman Island Monetary Authority.
(Reporting by Clare Hutchison; Editing by Mark Potter)
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