The International Stock Exchange (TISE) has announced record-equalling turnover for 2022.
The International Stock Exchange Group's latest annual report shows revenues of £10m during the financial year ended 31 December 2022, matching the record set in 2021.
Post-tax profit declined 13.2%, but was still the second highest recorded at £4.1m, and earnings per share were 145.6p.
During 2022, the Group paid a special dividend of £2 per share which, together with the ordinary dividends, equated to a total return of £8m to shareholders in the year.
Group Chair Anderson Whamond (pictured) said: “While adverse macro-economic conditions impaired trading during 2022, we delivered our second best year for new listings and profitability.
"Turnover matched the record set a year previously but profit after tax and basic earnings per share were impacted by the increased costs of doing business and a planned increase in expenditure to support the execution of our strategy to sustain future growth.”
New listings
During 2022, there were 956 newly listed securities on TISE. This contributed to a rise of 9.6% year on year in the total number of listed securities on TISE’s Official List, which reached 4,020 at 31 December 2022.
During the year, there was continued diversification across TISE’s core bond market offering, the Qualified Investor Bond Market (QIBM).
New listings on QIBM in 2022 included securitisations, high-yield bonds and convertibles, as well as green bonds and sustainability-linked bonds, which were also admitted to the Exchange’s sustainable market segment, TISE Sustainable.
Geographic diversification
The UK remained the largest single source of new business, but for the first time in the Exchange’s history, more than 25% of all securities listing on QIBM last year originated from the EU.
This geographic diversification has been underpinned by the continued growth and internalisation of member firms that facilitate business on TISE.
Building on 2021, last year the international membership base grew a further 13%, with three new members from Ireland and one from Jersey contributing to the total number of listing and trading members reaching 43 at the end of 2022.
• A copy of the Group’s annual report for the year ended December 2022 is available here.