The designation follows an application made by the CISX for consideration by the SEC for "designated offshore securities market" status within the meaning of Rule 902(b) under Regulation S of the Securities Act of 1933.
Ms Tamara Menteshvili, Chief Executive of the CISX says, "The success of our application to the SEC is important for our future business development and in enhancing the position of the Channel Islands as international financial centres."
The SEC applies rigorous criteria in making its decision. Their assessment includes reference to the Exchange's rules, its organisation and structure, regulatory framework, reporting of securities transactions and systems for the dissemination of price quotations and market data.
Mr Harry Taylor CBE, Chairman of the CISX says, "This recognition is a significant milestone and one which confirms the CISX's international standing. The Board is pleased with the way in which the Exchange has developed since it commenced business on 27 October 1998. The designation by the SEC lays a solid foundation for our future growth."
