The Global Exchange Market (GEM) is an exchange-regulated market operated under the supervision of the Irish Stock Exchange.
Currently over 200 High Yield deals listed from the EU and Latin America including Plain Vanilla, Upstream Guarantee Structures, LBO, M & A and Balance Sheet Restructuring issues.
GEM does not fall within the scope of an EU regulated market under MiFID, therefore requirements of the Prospectus and Transparency Directives do not apply. GEM is aimed at investors who are particularly knowledgeable in investment matters. Regulatory requirements are therefore less onerous than EU Regulated Market requirements.
Securities listed on GEM have the ability to trade via the ISE’s trading platform, ISE Xetra®. Click here to find out more about the Rules regarding trading on the ISE and ISE Xetra.
Securities listed on GEM are considered to be “quoted on a recognised stock exchange”. Assuming all conditions of Section 64 of the Taxes Consolidated Act 1997 (Relevant Irish Tax Legislation) are satisfied, there is no obligation on the issuer to deduct withholding tax from the payment of interest on a Eurobond quoted on GEM.
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