Stock Exchange event on European Wholesale Securities Market

The European Wholesale Securities Market was the focus of a breakfast event hosted by the Malta and the Irish stock exchanges at the Grand Hotel Excelsior a few days ago.

The EWSM is a joint venture between the two exchanges and forms a specialist new market intended primarily for wholesale fixed-income debt securities. The EWSM has been established in Malta as an EU-regulated market, authorised by the Malta Financial Services Authority.

More than 80 participants attended the event, including Irish Ambassador Jim Hennessy, MFSA chairman Joseph Bannister, other representatives of the MFSA, the Listing Authority, and other market practitioners.

The Irish Stock Exchange’s Gerard Scully highlighted the EWSM’s legislative framework, the proposal and its rationale for the EWSM and the potential role for Malta-based firms.

He spoke of the three pillars on which the proposal was based – pragmatism, a fast, streamlined process and a competitive price to create an attractive alternative option for admission for international issuers.

MSE chairman Arthur Galea Salomone referred to the close working relationship the two counterparts have enjoyed for more than 20 years, which has resulted in the opportunity to deliver an attractive new market proposition. The collaboration has served as a catalyst for another important development in the financial services sector.