The market said it will list assets ranging from corporate bonds to derivative securities using distributed ledger technology.
The Gibraltar Stock Exchange (GSX) has begun listing digital debt and digital fund securities, making it one of the first regulated markets in the world to use this technology.
The exchange will list these securities using blockchain technology on its secondary GSX Global Market.
It said the Gibraltar Financial Services Commission had granted it permission to use distributed ledger technology to list corporate bonds, convertible bonds, asset-backed securities, derivative securities, open-ended and closed-ended funds in digital or tokenised form.
“We aim to leverage blockchain to open up greater liquidity pools, making illiquid assets more accessible, and set the foundations to better democratise capital markets,” said Gibraltar Stock Exchange chief executive Nick Cowan. “Offering the listing of digital debt and digital fund securities significantly widens the potential GSX user base in respect of both Members and Issuers.”
The British Overseas Territory exchange, on Spain’s southern coast, runs two markets. It operates the GSX Main Market, and the GSX Global Market, a lower cost, lighter touch reporting bourse, which will be used for blockchain trading.
Cowan added: “The use of distributed ledger technology in the listing process represents a route to market for issuers seeking to gain access to the benefits of tokenised debt and fund opportunities, within the framework of a regulated stock exchange.”
The Gibraltar Stock Exchange also announced that it has opened up membership to firms from outside the European Union, the European Economic Area (Iceland, Liechtenstein, Norway) and Switzerland, “meaning licensed financial services firms from most jurisdictions may now apply to join the GSX and bring their issuers to market”.
Insurance AI & Analytics USA (June 27-28, Chicago) is the only forum bridging the gap between the analytical and data minds and the business transformation leaders. As carriers rush to meet customer demands and deliver continuous business growth without dramatically increasing costs, deploying innovative technologies such as AI, machine learning and advanced analytics can be the only way to remain competitive. But in order to deliver real value to the organization, these innovations must have a real application in the core business areas and directly improve operational efficiency and deliver a seamless customer experience