The Channel Islands Securities Exchange (CISE) has today announced plans to open an office in the Isle of Man and rebrand as The International Stock Exchange (TISE).
The Exchange, which is headquartered in Guernsey and opened an office in Jersey at the start of 2015, will launch a presence in the Isle of Man during next month.
Fiona Le Poidevin, Chief Executive of the CISE, said: ’Our plan to rebrand from CISE to TISE is a significant and very exciting milestone in the life of the Exchange. It reflects the very international nature of our existing business base but also our plans for the future, with the next step along that path being the launch of the office in the Isle of Man.
’I have made several visits to the Isle of Man in the last year and it is clear that there is significant interest from businesses in the island to have access to an exchange.
’The Isle of Man has trading companies within a diverse range of industries, including in the technology sector, who will be able to use the Exchange to raise capital to help them grow and the Exchange will also offer other firms the opportunity to participate in its success by being a listing sponsor or providing legal or administrative services to those companies being listed.
’Ultimately, we hope that our presence in the Isle of Man will directly and indirectly boost employment and growth in the Manx economy and generate positive revenues for the local exchequer.”
The CISE is set to rebrand as TISE from March 6 and plans to launch its presence in the Isle of Man on March 9.
Jon Moulton, chairman of the CISE, said: ’The business has been developing very well over the last few years, with both an increased and more diversified flow of new listings but our longer term strategy for growth is based on continuing to expand our international footprint.
’Launching a presence in the Isle of Man, where there is real enthusiasm for local access to an international exchange, is the next phase of the longer term strategy for the business and we believe now is the right time to also reflect that through a change in name.’