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Irish Stock Exchange 2016 profits up 21% to €8m

Irish Stock Exchange 2016 profits up 21% to €8m

DUBLIN: The Irish Stock Exchange (ISE) plc has recorded another strong financial year with results published today showing a 21% rise in profit after tax to €8m (2015: €6.6m). Revenues grew by 6% to €29.2m and total assets rose by 22% to €64.2m. With over 35,000 securities quoted on its markets from issuers located in 85 countries around the world, around 70% of ISE revenues come from international business lines. An analysis of revenues shows the ISE’s primary markets business, which includes international debt, fund and equity listings, recorded an increase in revenues of 5% to €20.1m (2015: €19.2m). According to statistics released by the World Federation of Exchanges for the end of 2016 the ISE was ranked as the #1 centre in the world for listing funds and was the second most popular centre for global bond listings across 68 exchanges. Debt listing and related income increased to €15.6m in 2016 (2015: €14.9m). This rise in income reflects the growth in debt securities listings by 7% to over 29,000 securities at the end of 2016, their fourth year of successive growth. Multinationals, sovereigns and financial institutions from Europe, the Americas, Africa, Asia and Australia were among the 6,777 new debt listings attracted to the ISE’s two debt markets during the year. Notable listings were the first ever sovereign bond issuance by the Kingdom of Saudi Arabia, one of the largest ever Canadian issuances from CPPIB Capital Inc, the capital markets financing subsidiary of Canada Pension Plan Investment Board, Vodafone and Ferrari. Other listings included Entertainment One, Clisa, Whirlpool and Glanbia.

Overall total assets at the end of 2016 stood at €64.2m (2015: €52.8m), following the acquisition of the shareholding in Euroclear plc that was previously owned by the ISE’s former trading entity (Irish Stock Exchange Limited, now ISE OldCo Limited). Commenting on the figures, ISE Chief Executive Deirdre Somers said, “2016 was a standout year for the ISE as we continued to build our domestic and international business lines. As a significant exporter of financial services into the EU and beyond, we are well-positioned to embrace the challenges and opportunities of Brexit. The outlook for 2017 is very positive. We are attracting significant debt listings making us by far the fastest growing bond market in the world.”