The Irish Stock Exchange (ISE) is a financial and investment centre located in Dublin and regulated by the Central Bank of Ireland. As the principal financial markets institution in Ireland, the Irish Stock Exchange offers a comprehensive range of services to issuers, investors and intermediaries.
Constituted in 1793, the Irish Stock Exchange was the first organised securities exchange in the entire world and it currently operates both primary and secondary stock markets in shares, bonds and derivatives. Primary markets in the ISE usually involve the issuance of new securities or the move of existing securities to public ownership. The secondary market, on the other hand, revolves around the trading of existing securities among brokers and dealers and investors.
In terms of products, the ISE offers trading in equities, exchange traded funds, equity derivatives, government bonds, corporate bonds, investment funds and securities traded over-the-counter. The exchange also provides regulations and standards which must be met before any type of securities can be traded on the exchange.
The Irish Stock Exchange facilitates the clearing and settlement of all transactions, and it is responsible for protecting the interests of investors by monitoring, supervising and reviewing the activities of its members. For this, it has implemented a wide range of regulations, including those related to insider trading, audit requirements, corporate governance and fair and equitable financial management practices.
The ISE has also sought to innovate beyond traditional markets and services, launching an electronic trading platform in 2000 which allows for more efficient access to markets and instruments. This platform, known as Yield Book, has become popular with both issuers and investors. Additionally, the ISE has sought to position itself as the premier stock exchange of choice for the listing and trading of Euro Bond debt instruments.
In recent years, the Irish Stock Exchange has sought to diversify its services and products further, introducing new electronic markets such as the Global Exchange (GX) Market, a private off-order-book market, and AltX, a multilingual electronic securities trading venue. The exchange has also sought to attract international companies to list on its market, particularly in the area of biotechnology.
Finally, the Irish Stock Exchange has put in place a comprehensive corporate governance policy, designed to improve transparency and accountability throughout the organisation and within the securities markets under its supervision. As part of this policy, the ISE has adopted strict listing requirements for companies wishing to float their shares on the exchange and operates strict requirements for companies with regard to disclosure of financial and operating information.
Overall, the Irish Stock Exchange is a leading financial and investment centre and a recognised authority in global securities markets. With an influx of new offerings, an innovative electronic trading platform and an emphasis on corporate governance, the Irish Stock Exchange continues to strive to uphold its long standing reputation as the premier financial centre in the region.
