The Gibraltar Financial Services Commission granted approval in December for GSX to extend its current licence from the technical listing of open-ended funds to include closed-ended funds and debt securities; including bonds, derivative securities, and asset-backed securities.
Strategic expansion
The expansion is a key element of GSX’s strategy in complementing Gibraltar’s position within the EU and providing financing solutions to its clients seeking a gateway to Europe, particularly through the securitisation area.
“We have seen strong demand for debt-related financing solutions in a number of sectors; including SME’s using the mini-bond market to raise capital in the EU Capital Markets and diversify funding sources; (re)insurance companies structuring catastrophe bonds, collateralised reinsurance vehicles and other insurance linked securities within the EU; and asset managers looking for an alternative path to Europe using fund-backed debt securities” said Nick Cowan, managing director of GSX.
“With the securitisation market in the EU at around €1.8trn (£1.3trn, $1.9trn) as of Q2 2015, and growing, the asset-backed securities market will be a particular area of focus for us in 2016. Listing securitised assets on GSX, an EU regulated market with an approved prospectus can offer a fast track, cost-effective route to the capital markets, providing full promotion and passporting rights throughout the EU,” he said.
