The chief executive of the Channel Islands Stock Exchange was the guest speaker at Moore’s Hotel for a Chamber of Commerce lunch this month. (Picture by Adrian Miller, 0673469)

THE Channel Islands Stock Exchange is going from strength to strength. The exchange, which is currently celebrating its 10th year, is on course to announce its 3,000th listing before the end of the year.

CISX chief executive Tamara Menteshvili, who was speaking at this month’s Chamber of Commerce lunch, said every year so far had been a challenge for the business.

On its first day in 1998, the CISX had just 23 members along with two listings. Membership has now reached 53 organisations.

‘The challenge was, how were we going to succeed in this marketplace and how was I going to sell it? Back then, scepticism was rife in both islands.’

But after battling away, she said the exchange’s competitive position had never been better. Also, all six members of staff who started out with the CISX are still part of the 26 people employed by the organisation.

‘We have a level playing field and we have created market firsts. Going up against the big boys was tough but we have introduced products that people have copied.’

For example, the CISX was the first to introduce the trading of open-ended investment funds and it is this which Ms Menteshvili said was now the CISX’s unique selling point.