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Maurizio Pastore – Vice President, International Primary Markets
The Irish Stock Exchange
Listing opportunities for Mexica...
The Irish Stock Exchange
• One of the oldest Exchanges in the world - Est. 1793
• Independent and well capitalised
• ISEQ ...
3,500 Issuers from 75 Jurisdictions
Listing Investment Funds
• 2,353 funds and sub-funds listed
• 82 ETFs
• 7,111 securities listed in total
• Funds from over...
Managers with ISE listed funds
Approved Prospectuses
So what has changed since the crisis…
• In 2007 - 85% of ISE Debt Business based on Structured MTN &
ABS
• In 2013 – less ...
Why list debt securities
 Access to European Capital Markets
 Withholding Tax Exemptions
 Investor Requirements
 ECB E...
Why list Debt Securities on the ISE?
 Certainty of Timing
 Seamless Listing Process
 Competitive Fee Structure
 Flexib...
Opportunities for Mexican entities
• Gateway to institutional European investors
• Tax advantages
• Most competitive prici...
Mexican Issuers listed on the ISE
More than 60 Mexican deals listed since 2008 – few examples:
•CEMEX S.A.B. DE C.V.
•GRUP...
Global Exchange Market (GEM)
 Exchange Regulated Market
 GEM specific rules derived from EU legislation
 The ISE is res...
LatAm a strategic region for the ISE
• More than 100 one to one meetings organised in Mexico City,
Sao Paulo, Lima, Buenos...
Para concludir
 Irlanda es un mercato abierto, flexible y competitivo
 Estamos aqui para asistiros
 Podeis confiar en n...
Contact Details
Thank you for your attention!
Maurizio.pastore@ise.ie : +353 1 6174 284
Maurizio Pastore
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Maurizio Pastore

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Presentation as part of the Dublin - Mexico Business promoting Dublin as the Gateway to Europe, eurgate, which was held May 1 and 2 2014 in Dublin.

Published in: Business, Economy & Finance
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  • Today the focus of my presentation will be on listing Debt securities on the ISE but first I want to give a brief outline of our investment funds listing business.
    We are the global leader in the listing of investment funds. We list funds managed from over 40 locations across the globe. We list funds from every major fund domicile including Ireland, Luxembourg, the Cayman Islands, Bermuda, BVI, Guernsey and Jersey. Our listed funds include UCITS, QIFs, AIFs and offshore funds
    Why list
    Satisfy investor requirements – funds are listed on the MSM an EU regulated market. The listing opens up the fund to investors who need/are required to invest in listed securities
    Increased Visibility & Transparency – the fund name along with basic info is displayed on our website,
    operational changes are also announced. The listing raises the profile of the fund.
    NAV and announcement Publication – the funds NAV and announcements are published on our website and distributed through Reuters and Bloomberg
    Tax Advantages – listing can make fund eligible tax treaty acess, Sipp/ISA (UK) , QDII regime (China) and pension fund eligibility (Canada)
    Third Party Oversight – The ISE has specialised listing rules and reviews the annual accounts of listed funds – this gives investors comfort
  • Transcript of "Maurizio Pastore"

    1. 1. Maurizio Pastore – Vice President, International Primary Markets The Irish Stock Exchange Listing opportunities for Mexican Issuers
    2. 2. The Irish Stock Exchange • One of the oldest Exchanges in the world - Est. 1793 • Independent and well capitalised • ISEQ Overall Index 2013 Performance +33.6% (10.04% YTD) • Specialised in listing fixed income securities and international investment funds
    3. 3. 3,500 Issuers from 75 Jurisdictions
    4. 4. Listing Investment Funds • 2,353 funds and sub-funds listed • 82 ETFs • 7,111 securities listed in total • Funds from over 15 domiciles Why list?  Satisfy Investor Requirements  Increased Visibility & Transparency  NAV and Announcement Publication  Tax Advantages  Third Party Oversight
    5. 5. Managers with ISE listed funds
    6. 6. Approved Prospectuses
    7. 7. So what has changed since the crisis… • In 2007 - 85% of ISE Debt Business based on Structured MTN & ABS • In 2013 – less than 50% of ISE Debt listing is now structured finance • ISE Revenue 2013: ABS 48% - Derivative 17% - ECP 17% - Plain Vanilla 16% -Covered Bonds 2%. • New debt issuers accessing the market in March 2014: Ireland 38 deals (58%), Luxembourg 26 (36%), London 4 (6%)
    8. 8. Why list debt securities  Access to European Capital Markets  Withholding Tax Exemptions  Investor Requirements  ECB Eligibility Criteria  Badge of Integrity
    9. 9. Why list Debt Securities on the ISE?  Certainty of Timing  Seamless Listing Process  Competitive Fee Structure  Flexibility & Experience  Customer Relationship Management
    10. 10. Opportunities for Mexican entities • Gateway to institutional European investors • Tax advantages • Most competitive pricing in the EU • Enhance international trading • Improves international visibility
    11. 11. Mexican Issuers listed on the ISE More than 60 Mexican deals listed since 2008 – few examples: •CEMEX S.A.B. DE C.V. •GRUPO BIMBO, S.A.B. DE C.V. •PEMEX GDN CITIBANK, N.A. AS DEPOSITARY BANK •BBVA BANCOMER, S.A. •COCA-COLA FEMSA, S.A.B. DE C.V. •ALPEK, S.A.B. DE C.V. •FOMENTO ECONOMICO MEXICANO, S.A.B. DE C.V. •GRUPO FAMSA, S.A.B. DE C.V. •GRUPO CEMENTOS DE CHIHUAHUA S.A.B. DE C.V. •MEXICO GENERADORA DE ENERGIA, S. DE R.L •GRUPO ELEKTRA SAB DE C.V. •KANSAS CITY SOUTHERN DE MÉXICO, S.A. DE C.V. •TV AZTECA, S.A.B. DE C.V. •COBRE DEL MAYO, S.A. DE C.V.
    12. 12. Global Exchange Market (GEM)  Exchange Regulated Market  GEM specific rules derived from EU legislation  The ISE is responsible for the approval of the Listing Particulars  Currently 40% of issuers list on GEM  ECB acceptable Exchange Regulated Market  Tailored Solutions
    13. 13. LatAm a strategic region for the ISE • More than 100 one to one meetings organised in Mexico City, Sao Paulo, Lima, Buenos Aires over the last 3 years • 5 LatAm capital markets conferences covered with more than 100 direct contacts made with domestic law firms, corporates, financial institutions, service providers, accountants LatAm deals listed on the ISE 2011 2012 2013 Brazil 12 21 24 Mexico 10 10 27 Peru 0 1 6 Puerto Rico 0 0 1 Chile 0 0 3 Panama 0 1 2
    14. 14. Para concludir  Irlanda es un mercato abierto, flexible y competitivo  Estamos aqui para asistiros  Podeis confiar en nosotros  Teneis un contacto directo
    15. 15. Contact Details Thank you for your attention! Maurizio.pastore@ise.ie : +353 1 6174 284
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