Malta Stock Ex­change aims to ex­pand

The Malta Business Weekly - - FRONT PAGE -

The Malta Stock Ex­change will soon be form­ing three work­ing com­mit­tees aimed at ex­pand­ing and en­hanc­ing its busi­ness de­vel­op­ment ob­jec­tives in 2016 and be­yond.

The Malta Stock Ex­change will soon be form­ing three work­ing com­mit­tees aimed at ex­pand­ing and en­hanc­ing its busi­ness de­vel­op­ment ob­jec­tives in 2016 and be­yond. The Ex­change’s chair­man, Joseph Portelli, said that he and the Board are keen on de­vel­op­ing new prod­uct lines that can take the Ex­change and Malta’s financial industry to new heights. He said he is look­ing for­ward to work­ing with the Fi­nance Min­istry and the Ex­change’s ex­ec­u­tive team to de­velop strate­gies for de­vel­op­ing three keys ar­eas and to work with stake­hold­ers to en­hance Mal­tese Cap­i­tal Mar­kets. The com­mit­tees to be formed are the Is­lamic Fi­nance Com­mit­tee, the Real Es­tate In­vest­ment Trust Com­mit­tee and the China List­ing Com­mit­tee. The com­mit­tees, which will be chaired by the Ex­change’s chair­man, will meet reg­u­larly and be staffed with in­ter­nal and ex­ter­nal ex­perts who can de­velop guide­lines and pro­cesses for ex­plor­ing how the MSE can pen­e­trate and ex­cel within cer­tain strate­gic ar­eas. For ex­am­ple, the REIT Com­mit­tee will ex­plore the fea­si­bil­ity of in­tro­duc­ing th­ese se­cu­ri­ties to the Mal­tese mar­kets to help lo­cal com­pa­nies fi­nance ex­ist­ing and planned real es­tate projects. The China List­ing Com­mit­tee will ex­plore how Chi­nese com­pa­nies can be prompted to dual list in Malta af­ford­ing them pass­port­ing rights within the Euro­pean Union. The Ex­change is also ex­plor­ing to in­tro­duce lo­cal stake­hold­ers to novel financial se­cu­ri­ties such as pre­ferred se­cu­ri­ties and Project Rev­enue Bonds. Some mem­bers of th­ese com­mit­tees will come from a re­cent ini­tia­tive un­der­taken by the Ex­change to form an Ex­ter­nal Ad­vi­sory Board, which is made up of six pro­fes­sion­als from out­side the Ex­change. Mr Portelli said that he wel­comes and en­cour­ages in­put and con­struc­tive ad­vice on how new prod­uct lines and mar­kets can be ex­plored and how op­er­a­tional pro­cesses can be im­proved. He said: “Malta’s re­cent eco­nomic growth has been the envy of Europe and a ro­bust lo­cal cap­i­tal mar­ket will only fuel fur­ther growth. Sim­ply we need to open the Ex­change to new and in­no­va­tive ideas.” Cur­rently two new busi­ness ini­tia­tives are close to fruition and will be rolled out by Q1 2016. The MSE will be in­tro­duc­ing Prospects, a do­mes­tic cap­i­tal mar­ket plat­form de­signed to cater for SMEs look­ing to raise cost-ef­fec­tive cap­i­tal in the area of €3 to €5m. Prospects can also ad­dress suc­ces­sion plan­ning con­cerns. The Ex­change is also plan­ning Road­show trips to Dubai and to coun­tries within Sub-Sa­ha­ran Africa to pro­mote Malta as a des­ti­na­tion to dual list com­pa­nies in th­ese grow­ing emerg­ing mar­kets and at­tract com­pa­nies fall­ing within the Is­lamic Fi­nance frame­work. There is also sig­nif­i­cant in­ter­est be­ing reg­is­tered from Ital­ian and Span­ish in­ter­me­di­aries in the Mal­tese cap­i­tal mar­ket.

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