World’s first commercial real estate stock exchange signs for Cinnober’s tech
UK-based International Property Securities Exchange (IPSX) is waiting for approval from the Financial Conduct Authority (FCA) and has signed for new trading tech from Cinnober.
IPSX describes itself as “the world’s first regulated stock exchange dedicated to trading of commercial property securities”. It needs a recognised investment exchange (RIE) licence from FCA to be able to open for business. It hopes to launch in 2017.
Swedish trading tech specialist Cinnober will provide its trading solution to IPSX, on a managed basis. It will be based on Cinnober’s Tradexpress as a Service (TESS).
Cyril Théret, CEO of IPSX, says the exchange was looking for “a robust and scalable trading platform”. Cinnober has an “excellent track record”, he adds.
IPSX will offer exchange traded property (ETP) securities – “a new investment product which will enable retail and institutional investors to buy and sell shares in a single commercial property,” the exchange says.
“IPSX will also provide investors with transparency, liquidity and, for the first time, consistent and publicly available data with exchange-driven price formation.”