Malta Stock Exchange
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The Malta Stock Exchange, 'Borża ta' Malta' in the Maltese language, is the stock exchange of the island nation of Malta. Since being set up in 1992, almost €3 billion worth of capital has been raised on the market for the private sector through the issue of corporate bonds and equity while a further €15 billion worth of Government of Malta Paper in the form of stocks and Treasury Bills have been issued and fully taken up. The investor base is in excess of 75,000 individual investors, a significant number given Malta’s economic size (GDP €6,756 million in 2012) and population (417,617 in 2012).
The focus of the Malta Stock Exchange is mostly domestic. It has also invested in technology.
The Malta Stock Exchange offers the following services:
- Admittance to listing on the MSE Main list or Alternative Companies List, subject to approval by the Maltese Regulator, the MFSA. Listed instruments have full passporting rights within the EU. Listed companies can their instruments traded on their own national exchange, within the EU, or on the Malta Stock Exchange.
- Secondary market trading: The Secondary market is mostly domestic, with 12 Maltese Members and 1 International Member trading on the Exchange’s Xetra platform. This platform is operated remotely from the Deutsch Bourse, in Frankfurt, and allows connectivity to the MSE by any of the 4,500+ traders who also connect to the Xetra platform around the world.
- Central Securities Depository services (CSD): The Depository services are mainly shareholder and bondholder register administration, for public as well as private companies, clearing and settlement processing relating to the trading platform, and custodial services. The CSD also offers registrar services in respect of IPOs.
In 2013, the Exchange achieved Designated Offshore Securities Market status by the SEC in the United States, complementing the HMRC recognition that had been attained from the UK authorities in 2005.
The Malta Stock Exchange is Malta's National Numbering Agency, issuing ISINs in respect of all securities issued in Malta.
The MSE is a member of:
- World Federation of Exchanges (WFE)
- Federation of European Securities Exchanges (FESE)
- European Central Securities Depositories Association (ECSDA)
- International Organisation of Securities Commissions (IOSCO)
- Association of National Numbering Agencies (ANNA)