Gibraltar’s first-ever regulated stock exchange has been granted regulatory approval to start operating, as international financial centres continue to compete for a share of listings business.

Gibraltar’s first-ever regulated stock exchange has been granted regulatory approval to start operating, as international financial centres continue to compete for a share of listings business.

Known as GSX Limited, the exchange has received the green light from the Financial Services Commission of Gibraltar. The exchange opens initially in a soft launch phase from 1 November – in which GSX invites listing members – and in the second, hard phase when full openings for listings commences in the first three months of 2015.

Adrian Hogg, non-executive director of GSX, said in the exchange’s statement that he believes the opening provides Gibraltar with an additional pillar and product offering to its expanding financial services sector and will provide infrastructure in further establishing Gibraltar as a leading EU finance centre”.

GSX has been marketing actively over the last 18 months making trips to Europe, Asia and the US.