The Irish Stock Exchange's CEO says that ten years after it was re-established as an independent exchange, the ISE has never been in better shape and further growth is anticipated in the years ahead.
The ISE separated from the London Stock Exchange ten years ago. Its CEO Tom Healy said this separation had posed significant challenges for the Irish market and the Irish stockbroking industry, but that all involved in the market had responded to those challenges.
Turnover on the Irish equity market has risen tenfold in the 10 years since 1995 to over €100 billion so far this year, while the market capitalisation has increased from €20 billion to €90 billion.
The ISEQ Overall Index is now more than three times its level in 1995, reaching an all-time high of 7,107 last week.
Mr Healy also emphasised the development of the Irish Stock Exchange as the leading centre in the world for the listing of investment funds, and the top European centre for listing bonds and asset-backed debt securities. He said that ten years ago, there were 500 investment funds securities listed on the ISE and now there are more than 8,700.
Listing of debt securities has also increased from just 19 in 1995 to over 6,000 in 2005.
'It is significant that even though most of the larger Irish companies have dual listings in Dublin and London, the majority of trading in Irish shares still takes place in Dublin. Institutional investors know that if they want liquidity and the ability to trade in size in Irish stocks, then Dublin can offer that liquidity,' said Mr Healy.
