The Irish Stock Exchange has agreed a joint venture with the Malta Stock Exchange to launch a new market for wholesale fixed-income debt securities, the European Wholesale Securities Market.
The ISE will own 80% of the new initiative with the MSE owning the remaining 20%.
The new market will offer issuers and arrangers of wholesale fixed-income debt securities access to an EU regulated market and the ISE says it complements the existing market offerings from each exchange.
The ISE's international primary markets division, headed by its director Gerald Scully, will act as promoter of the market and the Irish Stock Exchange will provide primary market infrastructure, listing and other corporate services.
Deirdre Somers, the chief executive of the Irish Stock Exchange, said the new market reflects an opportunity for the ISE to further expand its business internationally in one of its key product lines.
''The European Wholesale Securities Market creates an additional market choice for debt issuers which we believe is timely and attractive. It also allows the ISE to extend its geographic reach and to build on our established reputation in market and listing support services,' she added.
