Restructured CISE 'is a stock exchange fit for the 21st century'

THE new-look Channel Islands Securities Exchange will be a ‘stock exchange fit for the 21st century’, according to the Commerce and Employment minister.

Jon Moulton, chairman of the newly-named Channel Islands Securities Exchange.
Jon Moulton, chairman of the newly-named Channel Islands Securities Exchange.

THE new-look Channel Islands Securities Exchange will be a ‘stock exchange fit for the 21st century’, according to the Commerce and Employment minister.

Kevin Stewart has been closely involved from the States side with the development of the new exchange, which ‘went live’ at the end of last week after Royal Court approval.

The new structure sees the exchange authority handling day-to-day operations with a parent company marketing the exchange and setting strategy.

The former CISX company has set aside money for indemnities and will eventually be wound up.

‘Everyone has worked very hard – government, the Guernsey Financial Services Commission, the Law Officers, and the exchange team – and the end result will be of huge benefit,’ said Deputy Stewart.

‘The new exchange will be a stock exchange fit for the 21st century.

‘That is what this is all about, a very serious exchange which is fit for purpose for what we need now, and, in my view, to have someone of the international standing of Jon Moulton and Stephen Lansdown [chairman and deputy chairman of the exchange] taking this forward is a huge vote of confidence, too.’