The Malta Stock Exchange (MSE) in conjunction with the Irish Stock Exchange (ISE) held a Business Breakfast at the Grand Hotel Excelsior, Floriana in connection with the European Wholesale Securities Market (EWSM), a joint venture between the MSE and the ISE forming a specialist new market intended primarily for wholesale fixed-income debt securities. The EWSM has been established in Malta as an EU regulated market and authorised by the Malta Financial Services Authority.

Over 80 participants attended the event including HE Mr J Hennessy, Ambassador of Ireland to Malta, Prof. J.V. Bannister, chairman of the MFSA together with other representatives from the MFSA and the Listing Authority, members of the Exchange and other market practitioners.

In a brief opening speech, Dr Galea Salomone, chairman of the MSE, referred to the close working relationship that has existed between the ISE and the MSE for over 20 years which has resulted in the opportunity to deliver an attractive new market proposition and that such collaboration has served as a catalyst for yet another important development in the financial services sector.

Gerard Scully from the ISE gave a detailed overview of the EWSM with particular reference to the legislative framework, the proposal and the rationale for the EWSM and the potential role for Malta based firms. He also 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.