IRISH STOCK EXCHANGE: NEWS RELEASE
- Irish Stock Exchange (ISE) announces new transparency service for the Asset Backed Securities (ABS) markets
- Move reinforces ISE position as listing leader for ABS
FOR IMMEDIATE RELEASE: MONDAY, 21 JULY 2008, 5.30 PM
The Irish Stock Exchange, the European leader for the listing of asset backed securities, has announced a new transparency service to enhance its existing listing offering. This service was launched by the ISE today.
Speaking at the launch, Mr Gerard Scully, Director, International Primary Markets, said that the move was in response to emerging investor demand for greater information on securities transactions. “The ISE believes that the availability of good quality, relevant information is a cornerstone of any well-functioning market. Much of the debate on the current credit crisis has centred on the level of data and documentation transparency in the asset backed securities markets. The investor community has suggested that market transparency could be enhanced and the ISE supports this view.”
Mr Scully continued “The ISE is delighted to announce a new transparency service. For issuers choosing to use the facility, the ISE will provide access to a service enabling the publication of investor reports, as well as other important transaction documents. This service is available immediately and will enable broader investor access to such information without any impediments such as password protection. The ISE believes that provision of such information is consistent with current marketplace initiatives, such as those being co-ordinated through the European Securitisation Forum and will in due course come to represent industry best practice.”
“Enabling investors to locate most of the key documentation relating to a security issued and listed from a single source represents a significant service improvement to the current ISE offering and cements our position as a leader in the ABS market.” Mr Scully concluded.
Note to editors:
Effective 21st July 2008, Issuers listing on the ISE will be able to make available the following information relating to listed ABS securities by posting it on the website of the ISE:
- The Prospectus
- Investor Reports
- Supporting documentation, such as indentures, collateral, swap and other related agreements
- Financial Reports.
The web address for the Irish Stock Exchange is www.ise.ie
Further Information:
Gerard Scully
Director of International Primary Markets
Irish Stock Exchange
+353 1 6174253
Email: gerard.scully@ise.ie
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