Record turnover and profits for TISE in 2021

The International Stock Exchange, headquartered in Guernsey, has reported record turnover and profits for 2021.

The International Stock Exchange CEO Cees Vermaas.
The International Stock Exchange CEO Cees Vermaas.

Turnover increased 19% year-on-year to £9.9m., while post-tax profits rose 31% to hit £4.7m.

The exchange is currently seeing record listing volumes and it is the second year in a row that it has announced record figures.

The year saw 1,111 newly-listed securities on the exchange, taking its total to 3,669 at the end of the year.

‘We are delighted that in 2021 we have once again set new annual records both for listing volumes and financial performance,’ said group CEO Cees Vermaas.

‘I am pleased with the progress we have made in executing our strategy during 2021.

‘We remain focused on what we are good at – the efficient and secure listing of bonds – and have taken steps to enhance our core proposition as a major European professional bond market.

‘We have now laid the base for a more diversified and scalable business model, which puts us in an excellent position to make the most of the organic and inorganic opportunities which emerge in the coming years.’

The business enacted a number of developments in 2021, launching its Qualified Investor Bond Market and comprehensive sustainable finance segment TISE Sustainable. It expanded its membership base, including the addition of listing agents from Ireland, and that trend has continued during 2022.

In the first quarter of this year it has launched its new bespoke Nova trading system.

Earnings per share rose 31% over the year to 168.4p and the company is paying a special dividend on top of its regular dividend.

‘Following two years of exceptional performance, the board is announcing a special dividend of £2 per share, over and above the regular dividend payments,’ said chairman Charlie Geffen.

‘This is a return of approximately £5.6m. of surplus cash to shareholders. On behalf of the board, I would like to thank our shareholders for their continued support and investment.’

It has also been announced that Mr Geffen will leave the company after two-and-a- half years at this year’s AGM. Non-executive director Anderson Whamond will step up as interim chairman until the board has recruited a permanent successor.

‘I have every confidence that the group will continue to go from strength to strength and would like to thank Cees and my other fellow board members for their contribution to the progress we have made to date,’ Mr Geffen said.

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